Schlumberger (NYSE:SLB) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Schlumberger (NYSE:SLB) released its earnings results on Friday. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02, Zacks reports. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same period last year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis.

Schlumberger Stock Performance

Shares of SLB opened at $43.58 on Friday. Schlumberger has a 1 year low of $36.52 and a 1 year high of $55.69. The firm has a fifty day moving average of $40.85 and a 200-day moving average of $42.92. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The company has a market cap of $61.54 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. Schlumberger’s payout ratio is 35.37%.

Analysts Set New Price Targets

Several research analysts recently commented on SLB shares. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. TD Cowen dropped their price objective on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday, January 8th. Evercore ISI reiterated an “in-line” rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday. Finally, BMO Capital Markets dropped their price objective on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $56.03.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

About Schlumberger

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.