FY2020 EPS Estimates for Schlumberger Limited. Lowered by SunTrust Banks (SLB)

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%.

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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Earnings History and Estimates for Schlumberger (NYSE:SLB)

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