Schlumberger (NYSE:SLB) Releases Earnings Results, Meets Expectations

Schlumberger (NYSE:SLB) issued its quarterly earnings results on Friday. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75, Yahoo Finance reports. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. Schlumberger’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share.

Schlumberger Stock Down 2.1 %

SLB traded down $1.09 during trading on Friday, hitting $49.85. The company had a trading volume of 16,841,598 shares, compared to its average volume of 8,854,654. The company has a market capitalization of $71.16 billion, a PE ratio of 16.56, a PEG ratio of 0.95 and a beta of 1.60. Schlumberger has a one year low of $42.73 and a one year high of $62.12. The firm’s 50-day moving average price is $51.62 and its 200 day moving average price is $52.39. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.275 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.21%. Schlumberger’s payout ratio is currently 36.54%.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 172,191 shares of company stock valued at $8,636,322. 0.26% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Schlumberger

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Norges Bank bought a new stake in shares of Schlumberger in the 4th quarter valued at about $1,008,286,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Schlumberger by 200.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,736,684 shares of the oil and gas company’s stock valued at $527,173,000 after purchasing an additional 7,158,943 shares during the period. Legal & General Group Plc raised its holdings in shares of Schlumberger by 25.9% in the 4th quarter. Legal & General Group Plc now owns 11,742,455 shares of the oil and gas company’s stock valued at $611,077,000 after purchasing an additional 2,412,610 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Schlumberger by 179.2% in the 1st quarter. Renaissance Technologies LLC now owns 2,736,004 shares of the oil and gas company’s stock valued at $113,024,000 after purchasing an additional 1,756,000 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Schlumberger by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after purchasing an additional 1,753,108 shares during the period. 81.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on SLB. Royal Bank of Canada raised their price target on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Stifel Nicolaus raised their price target on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Susquehanna reaffirmed a “positive” rating and set a $77.00 target price on shares of Schlumberger in a report on Monday, April 8th. Bank of America lifted their target price on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $70.31.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.