Schlumberger (NYSE:SLB) Posts Quarterly Earnings Results, Meets Expectations

Schlumberger (NYSE:SLBGet Free Report) issued its quarterly earnings data on Friday. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75, Yahoo Finance reports. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year.

Schlumberger Stock Performance

SLB stock traded down $1.09 during trading hours on Friday, reaching $49.85. The stock had a trading volume of 16,841,598 shares, compared to its average volume of 8,854,654. The stock has a 50-day simple moving average of $51.62 and a 200 day simple moving average of $52.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. The stock has a market capitalization of $71.16 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. Schlumberger has a fifty-two week low of $42.73 and a fifty-two week high of $62.12.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.21%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,191 shares of company stock worth $8,636,322. 0.26% of the stock is owned by insiders.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new stake in Schlumberger during the 1st quarter worth approximately $25,000. Coppell Advisory Solutions LLC bought a new stake in shares of Schlumberger in the 2nd quarter valued at $27,000. Tyler Stone Wealth Management bought a new stake in shares of Schlumberger in the 2nd quarter valued at $33,000. Resurgent Financial Advisors LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at $35,000. Finally, Worth Asset Management LLC bought a new stake in shares of Schlumberger in the 1st quarter valued at $42,000. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SLB shares. Royal Bank of Canada increased their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Stifel Nicolaus increased their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Susquehanna reissued a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 8th. Finally, Benchmark restated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $70.31.

Read Our Latest Analysis on Schlumberger

About Schlumberger

(Get Free Report)

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.

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Earnings History for Schlumberger (NYSE:SLB)

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