Capital One Financial Corporation Analysts Reduce Earnings Estimates for Schlumberger N.V. (SLB)
Schlumberger N.V. (NYSE:SLB) – Equities researchers at Capital One Financial Corporation cut their FY2017 earnings per share (EPS) estimates for Schlumberger N.V. in a research note issued to investors on Monday. Capital One Financial Corporation analyst L. Lemoine now forecasts that the oil and gas company will earn $1.45 per share for the year, down from their previous forecast of $1.50. Capital One Financial Corporation also issued estimates for Schlumberger N.V.’s Q4 2017 earnings at $0.43 EPS and FY2018 earnings at $2.12 EPS.
A number of other research analysts also recently weighed in on the stock. BMO Capital Markets downgraded shares of Schlumberger N.V. from an “outperform” rating to a “hold” rating and cut their price target for the company from $74.00 to $72.00 in a report on Wednesday. Deutsche Bank AG began coverage on shares of Schlumberger N.V. in a report on Tuesday. They set a “buy” rating and a $78.00 price target on the stock. Royal Bank Of Canada set a $86.00 price target on shares of Schlumberger N.V. and gave the company a “buy” rating in a report on Saturday. Cowen and Company set a $80.00 price target on shares of Schlumberger N.V. and gave the company a “buy” rating in a report on Friday, October 6th. Finally, Citigroup Inc. raised their target price on shares of Schlumberger N.V. from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $83.28.
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Shares of Schlumberger N.V. (SLB) opened at 68.33 on Wednesday. Schlumberger N.V. has a 12 month low of $62.56 and a 12 month high of $87.84. The stock has a market capitalization of $94.60 billion, a PE ratio of 538.03 and a beta of 1.05. The company’s 50-day moving average is $66.68 and its 200-day moving average is $69.21.
Schlumberger N.V. (NYSE:SLB) last announced its quarterly earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.05. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The firm had revenue of $7.46 billion during the quarter, compared to analysts’ expectations of $7.25 billion. During the same period in the prior year, the company earned $0.23 EPS. The firm’s revenue was up 4.2% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.93%. The ex-dividend date is Friday, September 1st. Schlumberger N.V.’s dividend payout ratio is currently 1,538.58%.
In other news, Director Helge Lund purchased 2,800 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The stock was purchased at an average cost of $66.78 per share, with a total value of $186,984.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael E. Marks purchased 8,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $64.20 per share, with a total value of $513,600.00. The disclosure for this purchase can be found here. Company insiders own 0.38% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Aviance Capital Management LLC bought a new position in Schlumberger N.V. during the 2nd quarter valued at about $100,000. Tradewinds Capital Management LLC lifted its holdings in Schlumberger N.V. by 29.8% during the 1st quarter. Tradewinds Capital Management LLC now owns 1,338 shares of the oil and gas company’s stock valued at $104,000 after purchasing an additional 307 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new position in Schlumberger N.V. during the 2nd quarter valued at about $107,000. MCF Advisors LLC lifted its holdings in Schlumberger N.V. by 130.3% during the 1st quarter. MCF Advisors LLC now owns 1,617 shares of the oil and gas company’s stock valued at $126,000 after purchasing an additional 915 shares during the last quarter. Finally, Jacobi Capital Management LLC lifted its holdings in Schlumberger N.V. by 95.8% during the 2nd quarter. Jacobi Capital Management LLC now owns 2,044 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 1,000 shares during the last quarter. 78.91% of the stock is owned by hedge funds and other institutional investors.
About Schlumberger N.V.
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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