Schlumberger (NYSE:SLB) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Schlumberger (NYSE:SLB – Get Rating) issued its quarterly earnings results on Friday. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02, RTT News reports. Schlumberger had a return on equity of 16.58% and a net margin of 11.26%. The company had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.80 billion. During the same quarter last year, the company posted $0.41 EPS. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year.

Schlumberger Stock Down 0.1 %

SLB traded down $0.03 during midday trading on Friday, reaching $57.35. 19,204,828 shares of the company were exchanged, compared to its average volume of 7,449,242. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.03 and a current ratio of 1.40. The company’s fifty day moving average price is $52.90 and its 200 day moving average price is $44.53. The company has a market cap of $81.32 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 0.50 and a beta of 1.79. Schlumberger has a one year low of $30.65 and a one year high of $59.45.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Investors of record on Wednesday, February 8th will be paid a dividend of $0.25 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Tuesday, February 7th. Schlumberger’s dividend payout ratio is 29.17%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SLB shares. Jefferies Financial Group started coverage on Schlumberger in a research report on Wednesday, October 19th. They set a “buy” rating and a $59.00 price objective on the stock. Griffin Securities restated a “buy” rating on shares of Schlumberger in a research report on Monday, January 16th. Royal Bank of Canada boosted their price objective on Schlumberger from $59.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 8th. Susquehanna lifted their target price on Schlumberger from $52.00 to $59.00 and gave the stock a “positive” rating in a report on Monday, October 24th. Finally, The Goldman Sachs Group lifted their target price on Schlumberger from $46.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 25th. One analyst has rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.04.

Insiders Place Their Bets

In other Schlumberger news, VP Kevin Fyfe sold 6,095 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $53.00, for a total transaction of $323,035.00. Following the completion of the sale, the vice president now directly owns 35,535 shares of the company’s stock, valued at approximately $1,883,355. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Kevin Fyfe sold 6,095 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $53.00, for a total value of $323,035.00. Following the completion of the transaction, the vice president now directly owns 35,535 shares of the company’s stock, valued at $1,883,355. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 57,467 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $54.85, for a total value of $3,152,064.95. Following the completion of the transaction, the executive vice president now directly owns 183,551 shares of the company’s stock, valued at $10,067,772.35. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,496,976 shares of company stock valued at $196,612,911. Corporate insiders own 0.28% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Schlumberger by 1.1% during the third quarter. Vanguard Group Inc. now owns 123,210,874 shares of the oil and gas company’s stock worth $4,423,270,000 after acquiring an additional 1,393,060 shares in the last quarter. State Street Corp lifted its position in shares of Schlumberger by 1.7% during the third quarter. State Street Corp now owns 91,245,791 shares of the oil and gas company’s stock worth $3,291,135,000 after acquiring an additional 1,537,620 shares in the last quarter. FMR LLC lifted its position in shares of Schlumberger by 44.9% during the second quarter. FMR LLC now owns 32,671,828 shares of the oil and gas company’s stock worth $1,168,374,000 after acquiring an additional 10,121,321 shares in the last quarter. Amundi lifted its position in shares of Schlumberger by 1.5% during the second quarter. Amundi now owns 29,555,312 shares of the oil and gas company’s stock worth $931,195,000 after acquiring an additional 439,979 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Schlumberger by 59.3% during the second quarter. Jennison Associates LLC now owns 28,917,488 shares of the oil and gas company’s stock worth $1,034,089,000 after acquiring an additional 10,761,322 shares in the last quarter. Hedge funds and other institutional investors own 80.22% of the company’s stock.

About Schlumberger

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.