Schlumberger N.V. (NYSE:SLB) to Post Q3 2017 Earnings of $0.43 Per Share, SunTrust Banks Forecasts
Schlumberger N.V. (NYSE:SLB) – Equities researchers at SunTrust Banks boosted their Q3 2017 EPS estimates for shares of Schlumberger N.V. in a research note issued to investors on Monday. SunTrust Banks analyst K. Sill now forecasts that the oil and gas company will post earnings of $0.43 per share for the quarter, up from their prior forecast of $0.37. SunTrust Banks currently has a “Hold” rating and a $82.00 price target on the stock. SunTrust Banks also issued estimates for Schlumberger N.V.’s Q4 2017 earnings at $0.48 EPS, FY2017 earnings at $1.51 EPS, Q3 2018 earnings at $0.52 EPS, Q4 2018 earnings at $0.59 EPS and FY2018 earnings at $2.06 EPS.
Schlumberger N.V. (NYSE:SLB) last released its earnings results on Friday, July 21st. The oil and gas company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.05. The business had revenue of $7.46 billion during the quarter, compared to the consensus estimate of $7.25 billion. Schlumberger N.V. had a net margin of 0.62% and a return on equity of 3.80%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share.
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Several other research firms also recently commented on SLB. BidaskClub downgraded shares of Schlumberger N.V. from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research downgraded shares of Schlumberger N.V. from a “hold” rating to a “sell” rating in a research note on Thursday. Loop Capital decreased their price target on shares of Schlumberger N.V. from $93.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday. Seaport Global Securities reissued a “buy” rating on shares of Schlumberger N.V. in a research note on Friday, July 21st. Finally, Instinet reissued a “buy” rating and set a $78.00 price target (down from $85.00) on shares of Schlumberger N.V. in a research note on Monday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $86.40.
Schlumberger N.V. (NYSE SLB) opened at 67.78 on Thursday. The stock has a 50 day moving average of $66.72 and a 200-day moving average of $75.09. The company has a market cap of $93.88 billion, a P/E ratio of 533.70 and a beta of 1.02. Schlumberger N.V. has a 12 month low of $64.15 and a 12 month high of $87.84.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. National Pension Service increased its position in shares of Schlumberger N.V. by 4.5% in the first quarter. National Pension Service now owns 964,626 shares of the oil and gas company’s stock worth $75,086,000 after buying an additional 41,903 shares during the period. Rathbone Brothers plc increased its position in shares of Schlumberger N.V. by 1.2% in the first quarter. Rathbone Brothers plc now owns 126,286 shares of the oil and gas company’s stock worth $9,863,000 after buying an additional 1,537 shares during the period. Jackson Grant Investment Advisers Inc. bought a new position in shares of Schlumberger N.V. during the fourth quarter worth about $160,000. First United Bank Trust increased its position in shares of Schlumberger N.V. by 9.8% in the first quarter. First United Bank Trust now owns 13,135 shares of the oil and gas company’s stock worth $1,026,000 after buying an additional 1,175 shares during the period. Finally, Jolley Asset Management LLC increased its position in shares of Schlumberger N.V. by 10.0% in the first quarter. Jolley Asset Management LLC now owns 44,249 shares of the oil and gas company’s stock worth $3,456,000 after buying an additional 4,037 shares during the period. Institutional investors own 79.22% of the company’s stock.
In related news, Director Tore I. Sandvold sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $69.82, for a total transaction of $349,100.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $349,100. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Peter L. S. Currie acquired 3,625 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average price of $69.02 per share, with a total value of $250,197.50. Following the completion of the purchase, the director now owns 31,550 shares in the company, valued at approximately $2,177,581. The disclosure for this purchase can be found here. Insiders own 0.38% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Wednesday, September 6th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, September 1st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.95%. Schlumberger N.V.’s dividend payout ratio (DPR) is presently 1,538.58%.
Schlumberger N.V. Company Profile
Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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