Schlumberger Limited. (NYSE:SLB) – Equities researchers at SunTrust Banks dropped their FY2018 EPS estimates for Schlumberger in a research note issued on Tuesday, December 4th. SunTrust Banks analyst K. Sill now forecasts that the oil and gas company will earn $1.60 per share for the year, down from their previous estimate of $1.69. SunTrust Banks also issued estimates for Schlumberger’s Q4 2018 earnings at $0.34 EPS, Q1 2019 earnings at $0.30 EPS, Q2 2019 earnings at $0.44 EPS, Q3 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.70 EPS, FY2019 earnings at $2.06 EPS, Q1 2020 earnings at $0.63 EPS, Q2 2020 earnings at $0.76 EPS and Q3 2020 earnings at $0.89 EPS.
Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 19th. The oil and gas company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.01. The company had revenue of $8.50 billion during the quarter, compared to analysts’ expectations of $8.57 billion. Schlumberger had a positive return on equity of 6.55% and a negative net margin of 2.00%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $0.42 EPS.
Several other research firms have also recently commented on SLB. ValuEngine raised Schlumberger from a “sell” rating to a “hold” rating in a research note on Thursday, October 4th. Jefferies Financial Group lowered their target price on Schlumberger from $80.00 to $75.00 and set a “buy” rating for the company in a research note on Wednesday, September 26th. Wolfe Research began coverage on Schlumberger in a research note on Wednesday, October 10th. They issued a “market perform” rating for the company. Tudor Pickering cut Schlumberger from a “buy” rating to a “hold” rating in a research note on Tuesday, October 2nd. Finally, Macquarie set a $71.00 target price on Schlumberger and gave the company a “hold” rating in a research note on Tuesday, October 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $74.50.
NYSE SLB opened at $42.32 on Thursday. The firm has a market capitalization of $61.10 billion, a PE ratio of 28.21, a PEG ratio of 4.35 and a beta of 1.04. Schlumberger has a 52 week low of $41.87 and a 52 week high of $80.35. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.38.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 5th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.73%. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.
In related news, CFO Simon Ayat sold 60,000 shares of Schlumberger stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the completion of the sale, the chief financial officer now directly owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.48% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Glenview State Bank Trust DEPT. grew its stake in Schlumberger by 46.6% in the third quarter. Glenview State Bank Trust DEPT. now owns 31,593 shares of the oil and gas company’s stock valued at $1,925,000 after acquiring an additional 10,045 shares during the period. Precocity Capital LP grew its stake in Schlumberger by 20.0% in the second quarter. Precocity Capital LP now owns 60,000 shares of the oil and gas company’s stock valued at $4,022,000 after acquiring an additional 10,000 shares during the period. SeaTown Holdings Pte. Ltd. acquired a new position in Schlumberger in the third quarter valued at about $9,138,000. Cornerstone Wealth Management LLC grew its stake in Schlumberger by 17.2% in the third quarter. Cornerstone Wealth Management LLC now owns 302,955 shares of the oil and gas company’s stock valued at $4,434,000 after acquiring an additional 44,540 shares during the period. Finally, John G Ullman & Associates Inc. grew its stake in Schlumberger by 1.1% in the third quarter. John G Ullman & Associates Inc. now owns 284,928 shares of the oil and gas company’s stock valued at $17,358,000 after acquiring an additional 3,014 shares during the period. 77.74% of the stock is owned by institutional investors and hedge funds.
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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