Jefferies Group Weighs in on Schlumberger Limited.’s Q3 2018 Earnings (SLB)

Schlumberger Limited. (NYSE:SLB) – Research analysts at Jefferies Group boosted their Q3 2018 earnings per share (EPS) estimates for shares of Schlumberger in a report released on Monday, according to Zacks Investment Research. Jefferies Group analyst B. Handler now forecasts that the oil and gas company will earn $0.57 per share for the quarter, up from their previous estimate of $0.56. Jefferies Group currently has a “Buy” rating and a $78.00 target price on the stock. Jefferies Group also issued estimates for Schlumberger’s Q4 2018 earnings at $0.60 EPS and FY2020 earnings at $4.75 EPS.

A number of other equities research analysts have also recently commented on SLB. FBR & Co restated a “buy” rating on shares of Schlumberger in a research report on Friday, October 20th. Piper Jaffray Companies set a $74.00 target price on Schlumberger and gave the company a “buy” rating in a research report on Saturday, October 21st. Scotiabank set a $80.00 target price on Schlumberger and gave the company a “buy” rating in a research report on Saturday, October 21st. Morgan Stanley dropped their target price on Schlumberger from $90.00 to $81.00 and set an “overweight” rating on the stock in a research report on Monday, October 23rd. Finally, Credit Suisse Group set a $71.00 target price on Schlumberger and gave the company a “buy” rating in a research report on Monday, October 23rd. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company. Schlumberger has a consensus rating of “Buy” and a consensus price target of $82.29.

Schlumberger (SLB) traded down $1.07 during trading hours on Tuesday, hitting $64.85. The stock had a trading volume of 4,273,935 shares, compared to its average volume of 10,027,773. Schlumberger has a 52-week low of $61.02 and a 52-week high of $82.69. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.95. The firm has a market cap of $89,580.00, a PE ratio of -59.86, a PEG ratio of 5.08 and a beta of 0.98.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.04. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The company had revenue of $8.18 billion for the quarter, compared to the consensus estimate of $8.12 billion. During the same period last year, the firm earned $0.27 EPS. The firm’s revenue for the quarter was up 15.1% compared to the same quarter last year.

Hedge funds have recently added to or reduced their stakes in the company. Harding Loevner LP raised its position in Schlumberger by 1,337.3% in the third quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock valued at $569,035,000 after purchasing an additional 129,289,552 shares during the period. Vanguard Group Inc. grew its stake in shares of Schlumberger by 2.9% in the second quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock worth $6,519,670,000 after acquiring an additional 2,790,227 shares in the last quarter. Dodge & Cox grew its stake in shares of Schlumberger by 12.8% in 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 acquiring an additional 5,494,165 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Schlumberger by 6.8% in the fourth quarter. Bank of New York Mellon Corp now owns 27,353,450 shares of the oil and gas company’s stock worth $1,843,349,000 after acquiring an additional 1,733,171 shares in the last quarter. Finally, Northern Cross LLC grew its stake in shares of Schlumberger by 15.3% in the fourth quarter. Northern Cross LLC now owns 19,852,648 shares of the oil and gas company’s stock worth $1,337,870,000 after acquiring an additional 2,637,527 shares in the last quarter. 79.18% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CFO Simon Ayat sold 75,000 shares of Schlumberger stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total transaction of $5,914,500.00. Following the sale, the chief financial officer now owns 138,827 shares of the company’s stock, valued at approximately $10,947,897.22. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Howard Guild sold 25,000 shares of Schlumberger stock in a transaction that occurred on Monday, January 22nd. The shares were sold at an average price of $78.26, for a total transaction of $1,956,500.00. Following the sale, the insider now directly owns 22,410 shares in the company, valued at approximately $1,753,806.60. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s dividend payout ratio (DPR) is -183.49%.

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Schlumberger Company Profile

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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