Jefferies Group Comments on Schlumberger Limited.’s FY2019 Earnings (NYSE:SLB)

Schlumberger Limited. (NYSE:SLB) – Analysts at Jefferies Group dropped their FY2019 earnings estimates for Schlumberger in a report released on Thursday, according to Zacks Investment Research. Jefferies Group analyst B. Handler now anticipates that the oil and gas company will post earnings of $3.15 per share for the year, down from their previous forecast of $4.30. Jefferies Group currently has a “Buy” rating and a $78.00 price target on the stock. Jefferies Group also issued estimates for Schlumberger’s FY2020 earnings at $4.85 EPS.

Other equities analysts also recently issued research reports about the company. Cowen set a $85.00 target price on Schlumberger and gave the stock a “buy” rating in a research report on Thursday. Barclays set a $70.00 price objective on Schlumberger and gave the company a “hold” rating in a research report on Wednesday, October 25th. SunTrust Banks reiterated a “hold” rating on shares of Schlumberger in a research report on Tuesday, October 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $70.00 price objective (down previously from $86.00) on shares of Schlumberger in a research report on Monday, October 16th. Finally, Citigroup lifted their price objective on Schlumberger from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $79.56.

Schlumberger (NYSE:SLB) traded up $0.92 during trading on Monday, hitting $77.97. The company had a trading volume of 9,211,400 shares, compared to its average volume of 9,737,533. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.53 and a quick ratio of 1.20. The company has a market cap of $108,010.00, a P/E ratio of 199.92, a PEG ratio of 1.61 and a beta of 1.01. Schlumberger has a 1-year low of $61.02 and a 1-year high of $87.84.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 20th. The oil and gas company reported $0.42 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $7.91 billion. Schlumberger had a return on equity of 4.42% and a net margin of 1.86%. Schlumberger’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $0.25 EPS.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLB. Harding Loevner LP grew its stake in shares of Schlumberger by 1,337.3% during the third quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock worth $569,035,000 after purchasing an additional 129,289,552 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Schlumberger by 103.9% during the second quarter. First Eagle Investment Management LLC now owns 16,025,764 shares of the oil and gas company’s stock worth $1,055,136,000 after purchasing an additional 8,167,945 shares during the period. Dodge & Cox grew its stake in shares of Schlumberger by 12.8% during the second quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock worth $3,178,193,000 after purchasing an additional 5,494,165 shares during the period. Capital International Investors grew its stake in shares of Schlumberger by 74.8% during the third quarter. Capital International Investors now owns 10,031,514 shares of the oil and gas company’s stock worth $699,798,000 after purchasing an additional 4,294,058 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Schlumberger by 33.5% during the second quarter. American Century Companies Inc. now owns 11,117,713 shares of the oil and gas company’s stock worth $731,990,000 after purchasing an additional 2,791,675 shares during the period. 79.35% of the stock is owned by institutional investors.

In other news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total value of $219,205.00. Following the completion of the sale, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $93,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.38% of the stock is currently owned by company insiders.

The company also recently announced a quarterly dividend, which was paid on Friday, January 12th. Stockholders of record on Wednesday, December 6th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, December 5th. This represents a $2.00 annualized dividend and a dividend yield of 2.57%. Schlumberger’s dividend payout ratio (DPR) is currently 512.82%.

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About Schlumberger

Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

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