Schlumberger Limited (NYSE:SLB) Expected to Post Quarterly Sales of $5.92 Billion

Equities research analysts predict that Schlumberger Limited (NYSE:SLBGet Rating) will post sales of $5.92 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have made estimates for Schlumberger’s earnings, with the lowest sales estimate coming in at $5.87 billion and the highest estimate coming in at $5.98 billion. Schlumberger reported sales of $5.22 billion in the same quarter last year, which indicates a positive year over year growth rate of 13.4%. The business is expected to announce its next earnings report before the market opens on Monday, January 1st.

On average, analysts expect that Schlumberger will report full year sales of $25.90 billion for the current year, with estimates ranging from $25.43 billion to $26.21 billion. For the next fiscal year, analysts anticipate that the business will post sales of $29.59 billion, with estimates ranging from $28.65 billion to $30.61 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Schlumberger.

Schlumberger (NYSE:SLBGet Rating) last issued its quarterly earnings results on Friday, January 21st. The oil and gas company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The company had revenue of $6.23 billion for the quarter, compared to analyst estimates of $6.09 billion. Schlumberger had a net margin of 8.20% and a return on equity of 13.32%. Schlumberger’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.22 earnings per share.

Several brokerages have recently weighed in on SLB. Wells Fargo & Company upped their price objective on shares of Schlumberger from $45.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, March 31st. Piper Sandler raised shares of Schlumberger from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $43.00 to $55.00 in a research report on Monday, April 11th. Morgan Stanley upped their price objective on shares of Schlumberger from $43.00 to $50.00 and gave the stock an “overweight” rating in a report on Monday, April 11th. Susquehanna lifted their price objective on shares of Schlumberger from $41.00 to $43.00 in a report on Monday, January 24th. Finally, Royal Bank of Canada upped their target price on shares of Schlumberger from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Monday, January 24th. Three investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $44.45.

NYSE SLB opened at $43.25 on Monday. The stock has a market capitalization of $61.11 billion, a P/E ratio of 32.77 and a beta of 2.02. The business has a 50 day simple moving average of $40.88 and a 200 day simple moving average of $35.81. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.22 and a quick ratio of 0.91. Schlumberger has a one year low of $24.52 and a one year high of $46.27.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 7th. Shareholders of record on Wednesday, February 9th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Tuesday, February 8th. Schlumberger’s dividend payout ratio is currently 37.88%.

In related news, CAO Howard Guild sold 25,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 26th. The shares were sold at an average price of $39.02, for a total value of $995,010.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Claudia Jaramillo sold 11,628 shares of the business’s stock in a transaction on Wednesday, March 30th. The shares were sold at an average price of $43.00, for a total transaction of $500,004.00. The disclosure for this sale can be found here. Insiders have sold a total of 105,451 shares of company stock worth $4,190,908 in the last ninety days. Insiders own 0.28% of the company’s stock.

Several institutional investors have recently made changes to their positions in SLB. Field & Main Bank increased its holdings in shares of Schlumberger by 14.3% in the fourth quarter. Field & Main Bank now owns 2,200 shares of the oil and gas company’s stock worth $66,000 after purchasing an additional 275 shares during the period. Clarius Group LLC grew its position in Schlumberger by 2.6% during the fourth quarter. Clarius Group LLC now owns 11,219 shares of the oil and gas company’s stock worth $336,000 after buying an additional 279 shares in the last quarter. J.W. Cole Advisors Inc. increased its stake in Schlumberger by 2.5% in the 4th quarter. J.W. Cole Advisors Inc. now owns 11,673 shares of the oil and gas company’s stock worth $350,000 after acquiring an additional 280 shares during the last quarter. Northeast Investment Management raised its holdings in shares of Schlumberger by 1.2% in the 4th quarter. Northeast Investment Management now owns 23,507 shares of the oil and gas company’s stock valued at $704,000 after acquiring an additional 282 shares in the last quarter. Finally, Adell Harriman & Carpenter Inc. boosted its position in shares of Schlumberger by 2.3% during the 3rd quarter. Adell Harriman & Carpenter Inc. now owns 13,110 shares of the oil and gas company’s stock valued at $389,000 after acquiring an additional 300 shares during the last quarter. 75.52% of the stock is currently owned by hedge funds and other institutional investors.

About Schlumberger (Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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