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

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

Schlumberger Price Performance

Shares of SLB opened at $49.85 on Friday. The company has a market cap of $71.16 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. Schlumberger has a twelve month low of $42.73 and a twelve month high of $62.12. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $51.62 and a two-hundred day moving average of $52.39.

Schlumberger Increases Dividend

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

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total value of $1,944,699.40. Following the completion of the sale, the executive vice president now directly owns 386,841 shares in the company, valued at $19,504,523.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CAO Howard Guild sold 22,853 shares of Schlumberger stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total transaction of $1,180,585.98. Following the completion of the sale, the chief accounting officer now directly owns 22,181 shares in the company, valued at $1,145,870.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Mogharbel Khaled Al sold 38,570 shares of Schlumberger stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the sale, the executive vice president now owns 386,841 shares of the company’s stock, valued at $19,504,523.22. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock worth $8,636,322 over the last three months. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SLB. Acadian Asset Management LLC purchased a new position in shares of Schlumberger during the first quarter worth $25,000. Coppell Advisory Solutions LLC purchased a new position in shares of Schlumberger during the second quarter worth $27,000. Tyler Stone Wealth Management purchased a new position in shares of Schlumberger during the second quarter worth $33,000. Resurgent Financial Advisors LLC purchased a new position in shares of Schlumberger during the fourth quarter worth $35,000. Finally, Worth Asset Management LLC purchased a new position in shares of Schlumberger during the first quarter worth $42,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SLB. HSBC restated a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Royal Bank of Canada boosted their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Susquehanna reiterated a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research note on Monday, April 8th. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Finally, Bank of America boosted their target price on shares of Schlumberger from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.