Seaport Global Securities Brokers Reduce Earnings Estimates for Schlumberger N.V. (SLB)
Schlumberger N.V. (NYSE:SLB) – Equities researchers at Seaport Global Securities cut their FY2017 earnings per share (EPS) estimates for Schlumberger N.V. in a report issued on Monday. Seaport Global Securities analyst M. Urban now forecasts that the oil and gas company will post earnings per share of $1.48 for the year, down from their previous forecast of $1.54. Seaport Global Securities currently has a “Buy” rating on the stock. Seaport Global Securities also issued estimates for Schlumberger N.V.’s Q4 2017 earnings at $0.47 EPS, Q1 2018 earnings at $0.45 EPS, Q2 2018 earnings at $0.46 EPS, Q3 2018 earnings at $0.51 EPS, Q4 2018 earnings at $0.57 EPS, FY2018 earnings at $2.00 EPS, Q1 2019 earnings at $0.53 EPS, Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.68 EPS and FY2019 earnings at $2.60 EPS.
A number of other analysts have also recently weighed in on SLB. Credit Suisse Group set a $78.00 target price on shares of Schlumberger N.V. and gave the stock a “buy” rating in a report on Monday, July 24th. Jefferies Group LLC restated a “buy” rating and set a $80.00 target price (down from $92.00) on shares of Schlumberger N.V. in a report on Monday, July 24th. Zacks Investment Research cut shares of Schlumberger N.V. from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. BidaskClub upgraded shares of Schlumberger N.V. from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Morgan Stanley reduced their target price on shares of Schlumberger N.V. from $90.00 to $81.00 and set an “overweight” rating for the company in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $80.54.
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Schlumberger N.V. (SLB) opened at 61.91 on Tuesday. The company has a market capitalization of $85.72 billion, a price-to-earnings ratio of 487.48 and a beta of 1.05. The company’s 50-day moving average is $67.27 and its 200-day moving average is $68.40. Schlumberger N.V. has a 52-week low of $61.40 and a 52-week high of $87.84.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Schlumberger N.V. had a net margin of 1.86% and a return on equity of 4.42%. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.91 billion. During the same period last year, the firm earned $0.25 earnings per share. Schlumberger N.V.’s revenue for the quarter was up 12.6% compared to the same quarter last year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can raised its holdings in Schlumberger N.V. by 41.6% in the 2nd quarter. Bank of Montreal Can now owns 1,601,025 shares of the oil and gas company’s stock worth $105,414,000 after acquiring an additional 470,615 shares during the period. SOL Capital Management CO raised its holdings in Schlumberger N.V. by 8.3% in the 2nd quarter. SOL Capital Management CO now owns 5,226 shares of the oil and gas company’s stock worth $344,000 after acquiring an additional 400 shares during the period. Villere ST Denis J & Co. LLC raised its holdings in Schlumberger N.V. by 5.8% in the 2nd quarter. Villere ST Denis J & Co. LLC now owns 125,185 shares of the oil and gas company’s stock worth $8,242,000 after acquiring an additional 6,850 shares during the period. Puzo Michael J raised its holdings in Schlumberger N.V. by 6.0% in the 2nd quarter. Puzo Michael J now owns 26,447 shares of the oil and gas company’s stock worth $1,740,000 after acquiring an additional 1,500 shares during the period. Finally, Legal & General Group Plc raised its holdings in Schlumberger N.V. by 4.2% in the 1st quarter. Legal & General Group Plc now owns 6,715,534 shares of the oil and gas company’s stock worth $524,469,000 after acquiring an additional 273,522 shares during the period. Hedge funds and other institutional investors own 78.89% of the company’s stock.
In other Schlumberger N.V. news, Director Michael E. Marks purchased 8,000 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $64.20 per share, for a total transaction of $513,600.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 0.38% of the stock is currently owned by company insiders.
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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