Schlumberger (NYSE:SLB) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Schlumberger (NYSE:SLBGet Rating) posted its quarterly earnings results on Friday. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.01, MarketWatch Earnings reports. The firm had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.90 billion. Schlumberger had a return on equity of 13.32% and a net margin of 8.20%. Schlumberger’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 EPS.

Shares of NYSE:SLB traded up $1.23 during mid-day trading on Friday, reaching $41.88. 574,234 shares of the company traded hands, compared to its average volume of 16,410,465. The company’s 50 day moving average price is $41.13 and its 200-day moving average price is $36.07. The firm has a market cap of $59.18 billion, a PE ratio of 32.49 and a beta of 2.02. 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 52 week low of $24.57 and a 52 week high of $46.27.

In related news, CAO Howard Guild sold 25,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 26th. The stock was sold at an average price of $39.02, for a total value of $995,010.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Pierre Chereque sold 8,249 shares of the business’s stock in a transaction that occurred on Wednesday, February 2nd. The stock was sold at an average price of $39.31, for a total value of $324,268.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,451 shares of company stock valued at $4,190,908. 0.28% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of SLB. EverSource Wealth Advisors LLC purchased a new stake in shares of Schlumberger during the 4th quarter worth approximately $39,000. Privium Fund Management UK Ltd bought a new position in shares of Schlumberger during the 4th quarter valued at approximately $421,000. MML Investors Services LLC increased its position in shares of Schlumberger by 13.0% during the 4th quarter. MML Investors Services LLC now owns 53,070 shares of the oil and gas company’s stock valued at $1,589,000 after purchasing an additional 6,110 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of Schlumberger by 13.4% during the 4th quarter. Advisors Asset Management Inc. now owns 13,669 shares of the oil and gas company’s stock valued at $409,000 after purchasing an additional 1,612 shares during the last quarter. Finally, HB Wealth Management LLC bought a new position in shares of Schlumberger during the 4th quarter valued at approximately $218,000. 75.52% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently issued reports on SLB. Piper Sandler raised Schlumberger from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $43.00 to $55.00 in a research report on Monday, April 11th. Stifel Nicolaus lifted their price objective on Schlumberger from $44.00 to $50.00 in a report on Friday, April 8th. Argus lifted their price objective on Schlumberger from $38.00 to $45.00 in a report on Tuesday, January 25th. JPMorgan Chase & Co. lifted their price objective on Schlumberger from $40.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, January 24th. Finally, Susquehanna lifted their price objective on Schlumberger from $41.00 to $43.00 in a report on Monday, January 24th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $44.45.

Schlumberger Company Profile (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.

See Also

Earnings History for Schlumberger (NYSE:SLB)

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