Schlumberger (NYSE:SLB) Announces Earnings Results

Schlumberger (NYSE:SLB) posted its quarterly earnings data on Friday. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02, Zacks reports. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis.

Schlumberger Stock Up 6.1 %

Shares of SLB stock opened at $43.58 on Friday. The stock has a market cap of $61.54 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. Schlumberger has a one year low of $36.52 and a one year high of $55.69. The stock has a fifty day moving average price of $40.85 and a 200 day moving average price of $42.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.62%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Analysts Set New Price Targets

SLB has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. dropped their target price on Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Bank of America dropped their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. BMO Capital Markets dropped their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday. Finally, Jefferies Financial Group dropped their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $56.03.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

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.