Schlumberger Limited. (NYSE:SLB) – Seaport Global Securities cut their FY2018 earnings estimates for shares of Schlumberger in a research report issued on Wednesday, December 5th. Seaport Global Securities analyst M. Urban now expects that the oil and gas company will earn $1.61 per share for the year, down from their prior forecast of $1.66. Seaport Global Securities also issued estimates for Schlumberger’s Q4 2018 earnings at $0.35 EPS, Q1 2019 earnings at $0.27 EPS, Q2 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.72 EPS, FY2019 earnings at $1.95 EPS, Q1 2020 earnings at $0.61 EPS, Q2 2020 earnings at $0.69 EPS, Q3 2020 earnings at $0.78 EPS and FY2020 earnings at $3.00 EPS.
Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The firm had revenue of $8.50 billion during the quarter, compared to the consensus estimate of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share.
SLB stock opened at $42.32 on Friday. The firm has a market cap of $61.10 billion, a PE ratio of 28.21, a price-to-earnings-growth ratio of 4.35 and a beta of 1.04. Schlumberger has a 52-week low of $41.87 and a 52-week high of $80.35. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.38.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Strategic Wealth Partners Ltd. increased its stake in Schlumberger by 13.2% in the third quarter. Strategic Wealth Partners Ltd. now owns 17,940 shares of the oil and gas company’s stock valued at $1,093,000 after purchasing an additional 2,097 shares in the last quarter. Great Lakes Advisors LLC increased its stake in Schlumberger by 5.9% in the third quarter. Great Lakes Advisors LLC now owns 1,119,421 shares of the oil and gas company’s stock valued at $68,195,000 after purchasing an additional 62,542 shares in the last quarter. Clearbridge Investments LLC increased its stake in Schlumberger by 1.8% in the third quarter. Clearbridge Investments LLC now owns 15,016,040 shares of the oil and gas company’s stock valued at $914,777,000 after purchasing an additional 260,911 shares in the last quarter. Belpointe Asset Management LLC increased its stake in Schlumberger by 62.5% in the third quarter. Belpointe Asset Management LLC now owns 9,449 shares of the oil and gas company’s stock valued at $576,000 after purchasing an additional 3,635 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Schlumberger by 0.7% in the third quarter. Vanguard Group Inc. now owns 108,726,647 shares of the oil and gas company’s stock valued at $6,623,627,000 after purchasing an additional 735,605 shares in the last quarter. 77.74% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Simon Ayat sold 60,000 shares of Schlumberger stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the completion of the transaction, the chief financial officer now owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.48% of the stock is owned by company insiders.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.73%. The ex-dividend date is Tuesday, December 4th. Schlumberger’s dividend payout ratio is presently 133.33%.
Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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