Schlumberger (NYSE:SLB) Releases Earnings Results, Meets Expectations

Schlumberger (NYSE:SLB) posted its quarterly earnings data on Friday. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75, RTT News reports. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. Schlumberger’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $50.94 on Friday. The firm has a 50 day simple moving average of $51.56 and a 200 day simple moving average of $52.48. The company has a market cap of $72.71 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.97 and a beta of 1.60. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. Schlumberger has a one year low of $42.73 and a one year high of $62.12.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.16%. Schlumberger’s payout ratio is 37.67%.

Analyst Ratings Changes

A number of equities analysts have weighed in on SLB shares. HSBC reaffirmed a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Susquehanna reissued a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Stifel Nicolaus boosted their price target on shares of Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Finally, Royal Bank of Canada increased their price target on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $70.31.

Insider Activity

In other Schlumberger news, EVP Mogharbel Khaled Al sold 38,570 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total value of $1,944,699.40. Following the completion of the transaction, the executive vice president now owns 386,841 shares of the company’s stock, valued at approximately $19,504,523.22. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the transaction, the executive vice president now directly owns 386,841 shares of the company’s stock, valued at approximately $19,504,523.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,191 shares of company stock worth $8,636,322. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

A number of institutional investors and hedge funds have recently bought and sold shares of SLB. Acadian Asset Management LLC bought a new stake in shares of Schlumberger in the 1st quarter valued at about $25,000. Coppell Advisory Solutions LLC acquired a new position in shares of Schlumberger in the second quarter worth approximately $27,000. Tyler Stone Wealth Management bought a new stake in Schlumberger in the second quarter valued at approximately $33,000. Resurgent Financial Advisors LLC acquired a new stake in Schlumberger during the 4th quarter valued at approximately $35,000. Finally, Worth Asset Management LLC acquired a new position in shares of Schlumberger in the 1st quarter worth approximately $42,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

About Schlumberger

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.