SunTrust Banks upgraded shares of Schlumberger (NYSE:SLB) from a hold rating to a buy rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. SunTrust Banks also issued estimates for Schlumberger’s Q1 2018 earnings at $0.35 EPS, Q2 2018 earnings at $0.43 EPS, Q3 2018 earnings at $0.54 EPS, Q4 2018 earnings at $0.65 EPS, FY2018 earnings at $1.98 EPS, Q1 2019 earnings at $0.63 EPS, Q2 2019 earnings at $0.73 EPS, Q3 2019 earnings at $0.88 EPS, Q4 2019 earnings at $1.01 EPS and FY2019 earnings at $3.25 EPS. The analysts noted that the move was a valuation call.
SLB has been the subject of a number of other research reports. Royal Bank of Canada set a $73.00 price objective on shares of Schlumberger and gave the company a buy rating in a research note on Thursday, December 21st. Barclays set a $70.00 price objective on shares of Schlumberger and gave the company a hold rating in a research note on Saturday, March 24th. UBS set a $95.00 price objective on shares of Schlumberger and gave the company a buy rating in a research note on Monday, January 22nd. Zacks Investment Research downgraded shares of Schlumberger from a hold rating to a sell rating in a research note on Tuesday, January 23rd. Finally, ValuEngine downgraded shares of Schlumberger from a hold rating to a sell rating in a research note on Sunday, December 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $81.23.
Shares of SLB stock opened at $64.36 on Tuesday. Schlumberger has a twelve month low of $61.02 and a twelve month high of $80.89. The stock has a market capitalization of $91,021.27, a P/E ratio of 42.91, a PEG ratio of 5.19 and a beta of 1.05. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.21 and a quick ratio of 0.95.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 19th. The oil and gas company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.04. Schlumberger had a negative net margin of 4.94% and a positive return on equity of 5.27%. The firm had revenue of $8.18 billion during the quarter, compared to the consensus estimate of $8.12 billion. During the same quarter in the previous year, the company posted $0.27 EPS. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. analysts expect that Schlumberger will post 2.11 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s dividend payout ratio is presently 133.33%.
In related news, insider Mogharbel Khaled Al purchased 3,000 shares of the firm’s stock in a transaction on Wednesday, March 28th. The stock was purchased at an average price of $64.30 per share, for a total transaction of $192,900.00. Following the acquisition, the insider now directly owns 30,482 shares in the company, valued at $1,959,992.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Howard Guild sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the completion of the transaction, the insider now owns 22,410 shares of the company’s stock, valued at approximately $1,753,806.60. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 18,000 shares of company stock valued at $1,163,650. 0.48% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harding Loevner LP boosted its holdings in Schlumberger by 1,337.3% in the 3rd quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock worth $569,035,000 after acquiring an additional 129,289,552 shares during the period. Vanguard Group Inc. boosted its stake in shares of Schlumberger by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock valued at $6,519,670,000 after buying an additional 2,790,227 shares during the last quarter. Dodge & Cox boosted its stake in shares of Schlumberger by 12.8% during the 2nd quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock valued at $3,178,193,000 after buying an additional 5,494,165 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Schlumberger by 6.8% during the 4th quarter. Bank of New York Mellon Corp now owns 27,353,450 shares of the oil and gas company’s stock valued at $1,843,349,000 after buying an additional 1,733,171 shares during the last quarter. Finally, Northern Cross LLC boosted its stake in shares of Schlumberger by 15.3% during the 4th quarter. Northern Cross LLC now owns 19,852,648 shares of the oil and gas company’s stock valued at $1,337,870,000 after buying an additional 2,637,527 shares during the last quarter. Hedge funds and other institutional investors own 79.90% of the company’s stock.
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Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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