Schlumberger (NYSE:SLB) Issues Quarterly Earnings Results

Schlumberger (NYSE:SLBGet Rating) posted its earnings results on Friday. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.03, RTT News reports. The company had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Schlumberger had a return on equity of 16.58% and a net margin of 11.26%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.41 earnings per share.

Schlumberger Stock Down 0.1 %

SLB opened at $57.35 on Friday. The business’s 50-day simple moving average is $52.90 and its 200-day simple moving average is $44.53. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.03 and a current ratio of 1.40. Schlumberger has a one year low of $30.65 and a one year high of $59.45. The stock has a market capitalization of $81.32 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of 0.50 and a beta of 1.79.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, February 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, February 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. This is a boost from Schlumberger’s previous quarterly dividend of $0.18. Schlumberger’s payout ratio is 29.17%.

Insider Transactions at Schlumberger

In related news, insider Dianne B. Ralston sold 10,493 shares of the business’s stock in a transaction dated Friday, December 23rd. The stock was sold at an average price of $52.52, for a total value of $551,092.36. Following the transaction, the insider now owns 23,379 shares in the company, valued at approximately $1,227,865.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Vijay Kasibhatla sold 14,000 shares of the business’s stock in a transaction dated Wednesday, November 16th. The stock was sold at an average price of $54.15, for a total value of $758,100.00. Following the transaction, the director now owns 32,932 shares in the company, valued at approximately $1,783,267.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 10,493 shares of Schlumberger stock in a transaction that occurred on Friday, December 23rd. The shares were sold at an average price of $52.52, for a total value of $551,092.36. Following the completion of the sale, the insider now directly owns 23,379 shares in the company, valued at approximately $1,227,865.08. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,496,976 shares of company stock worth $196,612,911. Corporate insiders own 0.28% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Schlumberger by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,626,318 shares of the oil and gas company’s stock worth $315,044,000 after acquiring an additional 162,077 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Schlumberger by 179.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,736,004 shares of the oil and gas company’s stock worth $113,024,000 after acquiring an additional 1,756,000 shares in the last quarter. Mackenzie Financial Corp boosted its stake in shares of Schlumberger by 50.5% during the 1st quarter. Mackenzie Financial Corp now owns 2,694,029 shares of the oil and gas company’s stock worth $111,290,000 after acquiring an additional 903,929 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Schlumberger by 105.8% during the 1st quarter. First Trust Advisors LP now owns 1,703,206 shares of the oil and gas company’s stock worth $70,359,000 after acquiring an additional 875,600 shares in the last quarter. Finally, PointState Capital LP purchased a new stake in shares of Schlumberger during the 1st quarter worth approximately $44,273,000. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several research analyst reports. Susquehanna raised their price target on Schlumberger from $52.00 to $59.00 and gave the stock a “positive” rating in a research report on Monday, October 24th. Benchmark initiated coverage on Schlumberger in a research report on Thursday. They set a “buy” rating and a $65.00 price target for the company. Wells Fargo & Company raised their price target on Schlumberger from $51.00 to $69.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 26th. Susquehanna Bancshares raised their price target on Schlumberger from $52.00 to $59.00 and gave the stock a “positive” rating in a research report on Monday, October 24th. Finally, Royal Bank of Canada raised their price target on Schlumberger from $59.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 8th. One equities research analyst has rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.04.

About Schlumberger

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.

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Earnings History for Schlumberger (NYSE:SLB)

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