Schlumberger Limited. (NYSE:SLB) – Investment analysts at SunTrust Banks reduced their FY2020 earnings estimates for Schlumberger in a research report issued to clients and investors on Tuesday, December 4th. SunTrust Banks analyst K. Sill now expects that the oil and gas company will post earnings per share of $3.20 for the year, down from their prior estimate of $4.23.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The business had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.42 EPS.
Other equities research analysts have also recently issued research reports about the stock. Jefferies Financial Group dropped their price target on shares of Schlumberger to $54.00 and set a “buy” rating for the company in a research report on Thursday. Wolfe Research assumed coverage on shares of Schlumberger in a research report on Wednesday, October 10th. They set a “market perform” rating for the company. Credit Suisse Group dropped their price target on shares of Schlumberger from $82.00 to $71.00 and set an “outperform” rating for the company in a research report on Monday, October 22nd. Bank of America reissued a “buy” rating and set a $52.00 price target (down previously from $69.00) on shares of Schlumberger in a research report on Monday. Finally, ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a research report on Thursday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $74.50.
Shares of SLB opened at $42.32 on Friday. The firm has a market cap of $61.10 billion, a price-to-earnings ratio of 28.21, a PEG ratio of 4.39 and a beta of 1.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.13 and a quick ratio of 0.85. Schlumberger has a twelve month low of $41.87 and a twelve month high of $80.35.
A number of hedge funds and other institutional investors have recently modified their holdings of SLB. Strategic Wealth Partners Ltd. increased its stake in shares of Schlumberger by 13.2% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 17,940 shares of the oil and gas company’s stock worth $1,093,000 after acquiring an additional 2,097 shares in the last quarter. Great Lakes Advisors LLC increased its stake in Schlumberger by 5.9% during the 3rd quarter. Great Lakes Advisors LLC now owns 1,119,421 shares of the oil and gas company’s stock valued at $68,195,000 after purchasing an additional 62,542 shares in the last quarter. Clearbridge Investments LLC increased its stake in Schlumberger by 1.8% during the 3rd quarter. Clearbridge Investments LLC now owns 15,016,040 shares of the oil and gas company’s stock valued at $914,777,000 after purchasing an additional 260,911 shares in the last quarter. Belpointe Asset Management LLC increased its stake in Schlumberger by 62.5% during the 3rd quarter. Belpointe Asset Management LLC now owns 9,449 shares of the oil and gas company’s stock valued at $576,000 after purchasing an additional 3,635 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Schlumberger by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 108,726,647 shares of the oil and gas company’s stock valued at $6,623,627,000 after purchasing an additional 735,605 shares in the last quarter. Institutional investors and hedge funds own 77.74% of the company’s stock.
In other Schlumberger news, CFO Simon Ayat sold 60,000 shares of the company’s stock in a transaction on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total value of $3,396,000.00. Following the completion of the transaction, the chief financial officer now directly owns 234,008 shares in the company, valued at approximately $13,244,852.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.48% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Wednesday, December 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.00 annualized dividend and a yield of 4.73%. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.
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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