Schlumberger Limited. (NYSE:SLB) – Jefferies Group raised their FY2019 earnings per share estimates for shares of Schlumberger in a note issued to investors on Monday. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will earn $3.20 per share for the year, up from their previous estimate of $3.15. Jefferies Group has a “Buy” rating and a $78.00 price target on the stock.
A number of other research analysts also recently issued reports on the stock. Goldman Sachs Group downgraded shares of Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 price target on the stock. in a research report on Monday, November 13th. Piper Jaffray Companies set a $74.00 price target on shares of Schlumberger and gave the stock a “buy” rating in a research report on Saturday, October 21st. ValuEngine lowered shares of Schlumberger from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Citigroup lowered their target price on shares of Schlumberger from $80.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, October 25th. Finally, Barclays set a $70.00 price objective on shares of Schlumberger and gave the stock a “hold” rating in a research note on Wednesday, October 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $82.29.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.04. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The business had revenue of $8.18 billion during the quarter, compared to analyst estimates of $8.12 billion. During the same quarter in the prior year, the business earned $0.27 earnings per share. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the business. Aviance Capital Management LLC bought a new position in Schlumberger during the second quarter valued at about $100,000. FNY Partners Fund LP acquired a new stake in Schlumberger in the fourth quarter valued at approximately $101,000. Mountain Capital Investment Advisors Inc acquired a new stake in Schlumberger in the second quarter valued at approximately $107,000. Tradewinds Capital Management LLC boosted its position in Schlumberger by 22.3% in the second 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 in the last quarter. Finally, Jacobi Capital Management LLC boosted its position in Schlumberger by 95.8% in the second 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 in the last quarter. 79.30% of the stock is currently owned by institutional investors.
In other Schlumberger news, CFO Simon Ayat sold 75,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the transaction, the chief financial officer now owns 138,827 shares of the company’s stock, valued at approximately $10,947,897.22. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Howard Guild sold 25,000 shares of the stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the transaction, the insider now directly owns 22,410 shares in the company, valued at approximately $1,753,806.60. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s dividend payout ratio is presently -183.49%.
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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