Jefferies Group Comments on Schlumberger N.V.’s FY2017 Earnings (SLB)
Schlumberger N.V. (NYSE:SLB) – Analysts at Jefferies Group cut their FY2017 earnings per share (EPS) estimates for Schlumberger N.V. in a research note issued on Monday. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will post earnings of $1.49 per share for the year, down from their prior forecast of $1.50. Jefferies Group currently has a “Buy” rating and a $80.00 price target on the stock. Jefferies Group also issued estimates for Schlumberger N.V.’s Q4 2017 earnings at $0.47 EPS.
SLB has been the subject of a number of other reports. Zacks Investment Research raised Schlumberger N.V. from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Scotiabank set a $90.00 price objective on Schlumberger N.V. and gave the stock a “buy” rating in a research note on Friday, July 7th. FBR & Co reaffirmed a “buy” rating on shares of Schlumberger N.V. in a research note on Friday, October 20th. Piper Jaffray Companies set a $74.00 price objective on Schlumberger N.V. and gave the stock a “buy” rating in a research note on Saturday. Finally, Iberia Capital cut Schlumberger N.V. from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $100.00 to $77.00 in a research note on Thursday, June 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $80.54.
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Schlumberger N.V. (SLB) opened at 62.44 on Wednesday. The firm has a market cap of $86.45 billion, a price-to-earnings ratio of 491.65 and a beta of 1.05. Schlumberger N.V. has a 52-week low of $61.40 and a 52-week high of $87.84. The company has a 50 day moving average price of $67.13 and a 200-day moving average price of $68.28.
Schlumberger N.V. (NYSE:SLB) last released its quarterly earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.42. Schlumberger N.V. had a return on equity of 4.42% and a net margin of 1.86%. The business had revenue of $7.91 billion during the quarter, compared to analyst estimates of $7.91 billion. During the same quarter last year, the company posted $0.25 EPS. Schlumberger N.V.’s revenue for the quarter was up 12.6% on a year-over-year basis.
In other Schlumberger N.V. news, Director Michael E. Marks acquired 8,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $64.20 per share, for a total transaction of $513,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.38% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Schlumberger N.V. by 2.9% in the second quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock valued at $6,519,670,000 after buying an additional 2,790,227 shares during the period. State Street Corp raised its stake in Schlumberger N.V. by 1.1% in the first quarter. State Street Corp now owns 72,400,230 shares of the oil and gas company’s stock valued at $5,655,994,000 after buying an additional 769,874 shares during the period. Dodge & Cox raised its stake in Schlumberger N.V. by 12.8% in the second quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock valued at $3,178,193,000 after buying an additional 5,494,165 shares during the period. Bank of New York Mellon Corp raised its stake in Schlumberger N.V. by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 26,666,760 shares of the oil and gas company’s stock valued at $2,082,673,000 after buying an additional 477,006 shares during the period. Finally, Northern Trust Corp raised its stake in Schlumberger N.V. by 2.9% in the second quarter. Northern Trust Corp now owns 18,762,468 shares of the oil and gas company’s stock valued at $1,235,321,000 after buying an additional 536,928 shares during the period. Hedge funds and other institutional investors own 78.89% of the company’s stock.
Schlumberger N.V. Company Profile
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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