Schlumberger (SLB) Expected to Post Earnings of $0.38 Per Share

Equities research analysts expect that Schlumberger (NYSE:SLB) will announce earnings of $0.38 per share for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Schlumberger’s earnings. The highest EPS estimate is $0.41 and the lowest is $0.35. Schlumberger reported earnings per share of $0.25 in the same quarter last year, which suggests a positive year-over-year growth rate of 52%. The firm is scheduled to issue its next quarterly earnings report before the market opens on Friday, April 20th.

On average, analysts expect that Schlumberger will report full year earnings of $2.12 per share for the current year, with EPS estimates ranging from $1.85 to $2.35. For the next year, analysts expect that the business will report earnings of $3.15 per share, with EPS estimates ranging from $2.45 to $3.70. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Schlumberger.

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Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 19th. The oil and gas company reported $0.48 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $8.12 billion. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 15.1% compared to the same quarter last year.

SLB has been the topic of several research analyst reports. ValuEngine downgraded shares of Schlumberger from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Jefferies Group set a $78.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research note on Thursday, January 4th. Credit Suisse Group set a $86.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research note on Wednesday, March 14th. B. Riley set a $80.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Finally, SunTrust Banks boosted their price objective on shares of Schlumberger from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Schlumberger presently has a consensus rating of “Buy” and a consensus price target of $81.08.

In related news, CFO Simon Ayat sold 75,000 shares of the stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total value of $5,914,500.00. Following the completion of the transaction, the chief financial officer now directly owns 138,827 shares of the company’s stock, valued at approximately $10,947,897.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Howard Guild sold 25,000 shares of the 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 completion of the transaction, the insider now directly owns 22,410 shares of the company’s stock, valued at $1,753,806.60. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 18,000 shares of company stock valued at $1,163,650. 0.48% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in SLB. Harding Loevner LP increased 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 buying an additional 129,289,552 shares during the period. Vanguard Group Inc. increased its holdings in Schlumberger by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock worth $6,519,670,000 after buying an additional 2,790,227 shares during the period. Dodge & Cox increased its holdings in Schlumberger by 12.8% in the 2nd quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock worth $3,178,193,000 after buying an additional 5,494,165 shares during the period. Bank of New York Mellon Corp increased its holdings in Schlumberger by 6.8% in the 4th 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 buying an additional 1,733,171 shares during the period. Finally, Northern Cross LLC increased its holdings in Schlumberger by 15.3% in the 4th quarter. Northern Cross LLC now owns 19,852,648 shares of the oil and gas company’s stock worth $1,337,870,000 after buying an additional 2,637,527 shares during the period. 80.02% of the stock is owned by hedge funds and other institutional investors.

Shares of SLB stock traded down $0.38 during mid-day trading on Friday, hitting $69.96. The company had a trading volume of 4,238,558 shares, compared to its average volume of 8,497,292. Schlumberger has a 52-week low of $61.02 and a 52-week high of $80.35. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.95 and a current ratio of 1.21. The company has a market capitalization of $95,020.85, a PE ratio of 46.48, a price-to-earnings-growth ratio of 5.39 and a beta of 1.05.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Investors of record on Wednesday, February 7th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Tuesday, February 6th. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.

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About Schlumberger

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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