Schlumberger NV (NYSE:SLB) – Equities research analysts at Jefferies Group lifted their FY2017 earnings per share estimates for shares of Schlumberger NV in a report released on Monday. Jefferies Group analyst B. Handler now anticipates that the firm will earn $1.75 per share for the year, up from their prior forecast of $1.65. Jefferies Group has a “Hold” rating and a $88.00 price target on the stock. Jefferies Group also issued estimates for Schlumberger NV’s FY2018 earnings at $3.75 EPS and FY2019 earnings at $6.10 EPS.
Schlumberger NV (NYSE:SLB) last posted its earnings results on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The firm earned $7.16 billion during the quarter, compared to analyst estimates of $7.09 billion.
Other analysts have also recently issued research reports about the stock. Nomura started coverage on shares of Schlumberger NV in a report on Friday, April 8th. They issued a “buy” rating and a $81.00 target price on the stock. FBR & Co reaffirmed a “buy” rating and issued a $105.00 target price on shares of Schlumberger NV in a report on Wednesday, April 6th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and issued a $82.00 target price on shares of Schlumberger NV in a report on Monday, April 4th. Citigroup Inc. reiterated a “buy” rating and issued a $82.00 price target (down from $83.00) on shares of Schlumberger NV in a research note on Tuesday, March 29th. Finally, KLR Group increased their price target on shares of Schlumberger NV from $103.00 to $106.00 and gave the company a “buy” rating in a research note on Monday, April 25th. Six analysts have rated the stock with a hold rating, thirty have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $90.77.
Other institutional investors recently added to or reduced their stakes in the company. Grandfield & Dodd LLC raised its position in Schlumberger NV by 1.2% in the fourth quarter. Grandfield & Dodd LLC now owns 16,467 shares of the company’s stock valued at $1,149,000 after buying an additional 193 shares during the period. Becker Capital Management Inc. raised its position in Schlumberger NV by 1.2% in the fourth quarter. Becker Capital Management Inc. now owns 352,696 shares of the company’s stock valued at $24,601,000 after buying an additional 4,280 shares during the period. Denver Investment Advisors LLC raised its position in Schlumberger NV by 5.5% in the fourth quarter. Denver Investment Advisors LLC now owns 150,397 shares of the company’s stock valued at $10,494,000 after buying an additional 7,885 shares during the period. First Trust Advisors LP raised its position in Schlumberger NV by 3.0% in the fourth quarter. First Trust Advisors LP now owns 277,557 shares of the company’s stock valued at $19,360,000 after buying an additional 8,184 shares during the period. Finally, Veritas Investment Management LLP raised its position in Schlumberger NV by 18.6% in the fourth quarter. Veritas Investment Management LLP now owns 137,135 shares of the company’s stock valued at $9,562,000 after buying an additional 21,470 shares during the period.
In related news, Director Lubna S. Olayan purchased 1,500 shares of Schlumberger NV stock in a transaction that occurred on Tuesday, May 31st. The shares were purchased at an average cost of $77.07 per share, with a total value of $115,605.00. Following the transaction, the director now owns 20,000 shares of the company’s stock, valued at approximately $1,541,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Howard Guild sold 11,900 shares of the business’s stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $81.32, for a total value of $967,708.00. Following the transaction, the insider now directly owns 19,781 shares in the company, valued at $1,608,590.92. The disclosure for this sale can be found here.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Wednesday, September 7th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.50%.
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
