Schlumberger (NYSE:SLB) Announces Earnings Results, Hits Expectations

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

Schlumberger Stock Down 2.2 %

Schlumberger stock opened at $49.84 on Friday. 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 $71.14 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.60. The business has a 50 day simple moving average of $51.62 and a 200-day simple moving average of $52.43. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.21%. Schlumberger’s dividend payout ratio (DPR) is presently 37.67%.

Insider Activity

In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the company’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 transaction, 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. Insiders have sold 172,191 shares of company stock worth $8,636,322 in the last quarter. Corporate insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of institutional investors have recently made changes to their positions in SLB. Norges Bank purchased a new position in Schlumberger in the 4th quarter valued at $1,008,286,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Schlumberger by 200.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,736,684 shares of the oil and gas company’s stock worth $527,173,000 after buying an additional 7,158,943 shares in the last quarter. Legal & General Group Plc boosted its position in Schlumberger by 25.9% during the fourth quarter. Legal & General Group Plc now owns 11,742,455 shares of the oil and gas company’s stock worth $611,077,000 after acquiring an additional 2,412,610 shares during the last quarter. Renaissance Technologies LLC grew its stake in Schlumberger by 179.2% during the 1st quarter. Renaissance Technologies LLC now owns 2,736,004 shares of the oil and gas company’s stock valued at $113,024,000 after acquiring an additional 1,756,000 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Schlumberger by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after acquiring an additional 1,753,108 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the topic of several research reports. Wells Fargo & Company upped their target price on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Benchmark restated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Wednesday, April 3rd. Barclays decreased their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Royal Bank of Canada raised their price target 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. Finally, Stifel Nicolaus upped their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a report on Monday, January 22nd. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.31.

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.