Wall Street brokerages predict that Schlumberger Limited. (NYSE:SLB) will post sales of $8.53 billion for the current quarter, Zacks Investment Research reports. Ten analysts have made estimates for Schlumberger’s earnings. The highest sales estimate is $8.66 billion and the lowest is $8.43 billion. Schlumberger reported sales of $8.50 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.4%. The firm is expected to report its next earnings report on Friday, October 18th.
According to Zacks, analysts expect that Schlumberger will report full year sales of $33.38 billion for the current financial year, with estimates ranging from $33.09 billion to $33.88 billion. For the next year, analysts anticipate that the firm will report sales of $36.23 billion, with estimates ranging from $34.71 billion to $38.60 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Schlumberger.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. The firm had revenue of $8.27 billion for the quarter, compared to the consensus estimate of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 earnings per share.
SLB has been the topic of a number of recent analyst reports. Bank of America reaffirmed a “buy” rating and issued a $51.00 target price (down from $60.00) on shares of Schlumberger in a research note on Tuesday, June 25th. Royal Bank of Canada reduced their price target on shares of Schlumberger to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 15th. Piper Jaffray Companies set a $40.00 price target on shares of Schlumberger and gave the company a “buy” rating in a research report on Monday, July 1st. Morgan Stanley set a $51.00 price target on shares of Schlumberger and gave the company a “hold” rating in a research report on Monday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a research report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $52.17.
In other news, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the transaction, the executive vice president now owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the business’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the completion of the transaction, the insider now directly owns 46,354 shares of the company’s stock, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
Large investors have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Schlumberger during the 4th quarter worth approximately $486,635,000. Two Sigma Advisers LP grew its position in shares of Schlumberger by 139,145.2% during the 4th quarter. Two Sigma Advisers LP now owns 7,140,492 shares of the oil and gas company’s stock worth $257,629,000 after buying an additional 7,135,364 shares in the last quarter. FMR LLC grew its position in shares of Schlumberger by 53.5% during the 4th quarter. FMR LLC now owns 8,150,451 shares of the oil and gas company’s stock worth $294,067,000 after buying an additional 2,841,792 shares in the last quarter. Brandywine Global Investment Management LLC grew its position in shares of Schlumberger by 78.9% during the 4th quarter. Brandywine Global Investment Management LLC now owns 3,709,622 shares of the oil and gas company’s stock worth $133,844,000 after buying an additional 1,635,785 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Schlumberger by 15.5% during the 4th quarter. American Century Companies Inc. now owns 11,801,880 shares of the oil and gas company’s stock worth $425,812,000 after buying an additional 1,583,692 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.
SLB traded down $1.09 on Friday, reaching $37.42. The company had a trading volume of 8,737,181 shares, compared to its average volume of 8,864,089. The business has a 50 day moving average of $39.07. The stock has a market capitalization of $55.28 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 2.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.01 and a current ratio of 1.39. Schlumberger has a 52-week low of $34.46 and a 52-week high of $67.31.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 5.34%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is presently 123.46%.
Schlumberger Company Profile
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
Further Reading: Cost of Goods Sold (COGS)
Get a free copy of the Zacks research report on Schlumberger (SLB)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.