Schlumberger (NYSE:SLB) Announces Quarterly Earnings Results

Schlumberger (NYSE:SLB) issued its quarterly earnings results on Friday. The oil and gas company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75, Yahoo Finance reports. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS.

Schlumberger Stock Performance

NYSE:SLB opened at $49.85 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The firm has a 50-day moving average of $51.62 and a two-hundred day moving average of $52.36. The stock has a market cap of $71.16 billion, a P/E ratio of 16.56, a PEG ratio of 0.95 and a beta of 1.60. Schlumberger has a 1-year low of $42.73 and a 1-year high of $62.12.

Schlumberger Increases Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Barclays lowered their price objective on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Susquehanna reissued a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research note on Monday, April 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $70.31.

Insider Buying and Selling at Schlumberger

In other news, VP Kevin Fyfe sold 20,223 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $52.05, for a total value of $1,052,607.15. Following the sale, the vice president now owns 31,198 shares in the company, valued at approximately $1,623,855.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Katharina Beumelburg sold 8,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.62, for a total value of $420,960.00. Following the sale, the insider now owns 15,581 shares in the company, valued at approximately $819,872.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Kevin Fyfe sold 20,223 shares of the company’s stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $52.05, for a total transaction of $1,052,607.15. Following the completion of the sale, the vice president now owns 31,198 shares in the company, valued at approximately $1,623,855.90. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock valued at $8,636,322 in the last ninety days. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Several institutional investors and hedge funds have recently bought and sold shares of SLB. Acadian Asset Management LLC acquired a new stake in Schlumberger during the first quarter worth about $25,000. Coppell Advisory Solutions LLC bought a new position in Schlumberger in the 2nd quarter worth about $27,000. Tyler Stone Wealth Management bought a new position in shares of Schlumberger in the second quarter valued at approximately $33,000. Resurgent Financial Advisors LLC bought a new position in shares of Schlumberger in the fourth quarter valued at approximately $35,000. Finally, Worth Asset Management LLC bought a new position in shares of Schlumberger in the first quarter valued at approximately $42,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Company Profile

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.