Schlumberger Limited. Forecasted to Post Q1 2019 Earnings of $0.33 Per Share (SLB)
Schlumberger Limited. (NYSE:SLB) – Equities research analysts at Capital One Financial dropped their Q1 2019 earnings per share (EPS) estimates for shares of Schlumberger in a research note issued on Wednesday, December 5th. Capital One Financial analyst L. Lemoine now expects that the oil and gas company will post earnings of $0.33 per share for the quarter, down from their prior estimate of $0.39. Capital One Financial also issued estimates for Schlumberger’s Q2 2019 earnings at $0.45 EPS, Q3 2019 earnings at $0.58 EPS and FY2019 earnings at $2.05 EPS.
Several other research analysts also recently issued reports on the stock. Citigroup reduced their price target on shares of Schlumberger from $77.00 to $72.00 and set a “buy” rating on the stock in a research report on Monday, October 22nd. Morgan Stanley initiated coverage on shares of Schlumberger in a research report on Tuesday, September 18th. They set an “equal weight” rating and a $72.00 price target on the stock. Credit Suisse Group reduced their price target on shares of Schlumberger from $82.00 to $71.00 and set an “outperform” rating on the stock in a research report on Monday, October 22nd. Stifel Nicolaus initiated coverage on shares of Schlumberger in a research report on Monday, September 10th. They set a “hold” rating and a $69.00 price target on the stock. Finally, ValuEngine downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company. Schlumberger currently has a consensus rating of “Buy” and a consensus price target of $74.50.
Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The business had revenue of $8.50 billion for the quarter, compared to the consensus estimate of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.42 EPS.
Large investors have recently made changes to their positions in the business. Mainstay Capital Management LLC ADV increased its stake in shares of Schlumberger by 3,884.1% in the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock valued at $105,000 after acquiring an additional 6,603 shares during the last quarter. Zions Bancorporation bought a new stake in shares of Schlumberger in the 3rd quarter valued at about $131,000. Truvestments Capital LLC bought a new stake in shares of Schlumberger in the 3rd quarter valued at about $132,000. Whitener Capital Management Inc. bought a new stake in shares of Schlumberger in the 3rd quarter valued at about $137,000. Finally, Moneta Group Investment Advisors LLC increased its stake in shares of Schlumberger by 909.1% in the 2nd quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock valued at $138,000 after acquiring an additional 20,137 shares during the last quarter. 77.74% of the stock is owned by hedge funds and other institutional investors.
In other Schlumberger news, CFO Simon Ayat sold 60,000 shares of the business’s stock in a transaction dated Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the completion of the sale, the chief financial officer now directly owns 234,008 shares of the company’s stock, valued at approximately $13,244,852.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 5th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.00 annualized dividend and a yield of 4.73%. Schlumberger’s dividend payout ratio is currently 133.33%.
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
Featured Article: Cost of Capital Explained
Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.