Schlumberger (NYSE:SLB) Posts Quarterly Earnings Results

Schlumberger (NYSE:SLBGet Free Report) posted its quarterly earnings results on Friday. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75, Yahoo Finance reports. The firm 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%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $0.63 earnings per share.

Schlumberger Stock Down 2.1 %

Shares of SLB stock traded down $1.09 during mid-day trading on Friday, reaching $49.85. 16,841,598 shares of the company’s stock traded hands, compared to its average volume of 8,854,654. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12. The company has a market cap of $71.16 billion, a P/E ratio of 16.56, a P/E/G ratio of 0.95 and a beta of 1.60. 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’s 50-day moving average price is $51.62 and its 200-day moving average price is $52.39.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is 36.54%.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 38,570 shares of the business’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 sale, the executive vice president now owns 386,841 shares in the company, valued at approximately $19,504,523.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other 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 transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction of $1,944,699.40. Following the completion of the transaction, the executive vice president now owns 386,841 shares in the company, valued at approximately $19,504,523.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,191 shares of company stock worth $8,636,322. Corporate insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Acadian Asset Management LLC bought a new stake in shares of Schlumberger during the first quarter valued at approximately $25,000. Coppell Advisory Solutions LLC bought a new position in Schlumberger in the 2nd quarter valued at approximately $27,000. Tyler Stone Wealth Management purchased a new stake in Schlumberger during the 2nd quarter valued at $33,000. Resurgent Financial Advisors LLC bought a new stake in shares of Schlumberger in the 4th quarter worth $35,000. Finally, Worth Asset Management LLC purchased a new position in shares of Schlumberger in the first quarter worth $42,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLB has been the topic of several research reports. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Royal Bank of Canada lifted their target price on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus lifted their target price on shares of Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Wednesday, April 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $70.31.

Read Our Latest Stock Analysis on SLB

About Schlumberger

(Get Free Report)

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.

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Earnings History for Schlumberger (NYSE:SLB)

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