SunTrust Banks Comments on Schlumberger N.V.’s FY2017 Earnings (SLB)
Schlumberger N.V. (NYSE:SLB) – SunTrust Banks reduced their FY2017 earnings per share estimates for shares of Schlumberger N.V. in a note issued to investors on Monday. SunTrust Banks analyst K. Sill now anticipates that the oil and gas company will earn $1.47 per share for the year, down from their prior estimate of $1.51. SunTrust Banks has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Schlumberger N.V.’s Q4 2017 earnings at $0.45 EPS.
Several other brokerages have also commented on SLB. Sanford C. Bernstein raised Schlumberger N.V. from a “market perform” rating to an “outperform” rating and dropped their price objective for the company from $94.00 to $80.00 in a report on Thursday, July 6th. They noted that the move was a valuation call. BMO Capital Markets reiterated a “buy” rating and set a $74.00 price objective on shares of Schlumberger N.V. in a research report on Wednesday, September 6th. Goldman Sachs Group, Inc. (The) reiterated a “conviction-buy” rating on shares of Schlumberger N.V. in a research report on Saturday, July 22nd. Zacks Investment Research upgraded Schlumberger N.V. from a “sell” rating to a “hold” rating in a research report on Thursday, July 20th. Finally, BidaskClub upgraded Schlumberger N.V. from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Two investment 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 given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $80.08.
ILLEGAL ACTIVITY NOTICE: This report was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was illegally stolen and republished in violation of international copyright & trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2017/11/02/suntrust-banks-comments-on-schlumberger-n-v-s-fy2017-earnings-slb.html. Schlumberger N.V. (NYSE:SLB) last released its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.42. The company had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $7.91 billion. Schlumberger N.V. had a net margin of 1.86% and a return on equity of 4.42%. Schlumberger N.V.’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.25 EPS.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its position in Schlumberger N.V. by 41.6% during 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 last quarter. SOL Capital Management CO increased its holdings in shares of Schlumberger N.V. by 8.3% during the 2nd quarter. SOL Capital Management CO now owns 5,226 shares of the oil and gas company’s stock worth $344,000 after purchasing an additional 400 shares during the period. Denver Investment Advisors LLC increased its holdings in shares of Schlumberger N.V. by 5.8% during the 2nd quarter. Denver Investment Advisors LLC now owns 160,191 shares of the oil and gas company’s stock worth $10,547,000 after purchasing an additional 8,817 shares during the period. Villere ST Denis J & Co. LLC increased its holdings in shares of Schlumberger N.V. by 5.8% during 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 purchasing an additional 6,850 shares during the period. Finally, Puzo Michael J increased its holdings in shares of Schlumberger N.V. by 6.0% during the 2nd quarter. Puzo Michael J now owns 26,447 shares of the oil and gas company’s stock worth $1,740,000 after purchasing an additional 1,500 shares during the period. 79.13% of the stock is owned by institutional investors and hedge funds.
In related news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger N.V. stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total value of $219,205.00. Following the completion of the sale, the director now owns 1,500 shares of the company’s stock, valued at approximately $93,945. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Michael E. Marks acquired 8,000 shares of Schlumberger N.V. stock in a transaction that occurred on Friday, August 11th. The stock was acquired 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.
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.
Receive News & Ratings for Schlumberger N.V. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger N.V. and related companies with MarketBeat.com's FREE daily email newsletter.