Schlumberger (NYSE:SLB) Issues Earnings Results, Beats Expectations By $0.02 EPS

Schlumberger (NYSE:SLB) released its quarterly earnings results on Friday. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02, Briefing.com reports. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same quarter last year, the business earned $0.72 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis.

Schlumberger Price Performance

Shares of NYSE SLB opened at $48.86 on Friday. The stock’s 50-day moving average is $46.28 and its two-hundred day moving average is $49.10. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger has a 1-year low of $42.61 and a 1-year high of $62.12. The company has a market cap of $69.84 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 1.05 and a beta of 1.55.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.25%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,158 shares of company stock worth $5,099,893. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on SLB shares. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Susquehanna reduced their price objective on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Wells Fargo & Company downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $68.00 to $53.00 in a report on Monday, April 29th. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, Barclays decreased their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $67.29.

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.