Griffin Securities Research Analysts Reduce Earnings Estimates for Schlumberger Limited. (SLB)
Schlumberger Limited. (NYSE:SLB) – Analysts at Griffin Securities decreased their FY2017 EPS estimates for Schlumberger in a research note issued on Wednesday. Griffin Securities analyst K. Simpson now expects that the oil and gas company will post earnings per share of $1.46 for the year, down from their prior estimate of $1.48. Griffin Securities also issued estimates for Schlumberger’s Q4 2017 earnings at $0.44 EPS, Q1 2018 earnings at $0.43 EPS and FY2019 earnings at $2.86 EPS.
A number of other analysts have also weighed in on SLB. Jefferies Group set a $80.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Friday, August 25th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $80.00 target price on shares of Schlumberger in a report on Wednesday, September 6th. BMO Capital Markets reaffirmed a “buy” rating and set a $74.00 target price on shares of Schlumberger in a report on Wednesday, September 6th. J P Morgan Chase & Co decreased their target price on shares of Schlumberger from $79.00 to $76.00 and set an “overweight” rating on the stock in a report on Tuesday, September 12th. Finally, Citigroup boosted their price target on shares of Schlumberger from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, October 5th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $79.31.
Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $7.91 billion. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. Schlumberger’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 EPS.
Institutional investors have recently made changes to their positions in the company. Aviance Capital Management LLC purchased a new stake in shares of Schlumberger in the 2nd quarter valued at $100,000. Mountain Capital Investment Advisors Inc bought a new stake in Schlumberger during the 2nd quarter valued at $107,000. Tradewinds Capital Management LLC raised its holdings in Schlumberger by 22.3% during the 2nd quarter. Tradewinds Capital Management LLC now owns 1,636 shares of the oil and gas company’s stock valued at $108,000 after buying an additional 298 shares during the last quarter. Jacobi Capital Management LLC raised its holdings in Schlumberger 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 buying an additional 1,000 shares during the last quarter. Finally, Atlantic Trust LLC bought a new stake in Schlumberger during the 2nd quarter valued at $137,000. 79.32% of the stock is owned by institutional investors.
In other news, Director Tore I. Sandvold sold 3,500 shares of the company’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is currently owned by corporate insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Wednesday, December 6th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 5th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.06%. Schlumberger’s dividend payout ratio (DPR) is 512.83%.
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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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