Equities analysts forecast that Schlumberger Limited. (NYSE:SLB) will report sales of $8.12 billion for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have provided estimates for Schlumberger’s earnings, with the lowest sales estimate coming in at $8.02 billion and the highest estimate coming in at $8.19 billion. Schlumberger posted sales of $8.30 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 2.2%. The firm is scheduled to issue its next earnings results before the market opens on Friday, July 19th.
According to Zacks, analysts expect that Schlumberger will report full-year sales of $33.37 billion for the current fiscal year, with estimates ranging from $32.91 billion to $34.37 billion. For the next financial year, analysts forecast that the company will post sales of $36.70 billion, with estimates ranging from $35.19 billion to $39.02 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that cover Schlumberger.
Schlumberger (NYSE:SLB) last announced its earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.30. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. The business had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same quarter last year, the firm earned $0.38 EPS. Schlumberger’s revenue for the quarter was up .6% compared to the same quarter last year.
Several research analysts have weighed in on SLB shares. Tudor Pickering lowered Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price target on the stock. in a research report on Monday, April 22nd. Stifel Nicolaus boosted their price target on Vail Resorts from $219.00 to $230.00 and gave the stock a “hold” rating in a research report on Friday, June 7th. Gabelli started coverage on Schlumberger in a research report on Thursday, June 27th. They set a “buy” rating and a $55.00 price target on the stock. Bank of America reaffirmed an “underperform” rating and set a $1.25 price target (down previously from $4.50) on shares of Superior Energy Services in a research report on Tuesday, June 25th. Finally, Raymond James set a $29.00 price target on Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a research report on Friday, June 21st. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $53.58.
Schlumberger stock traded up $0.17 during midday trading on Thursday, reaching $40.79. The stock had a trading volume of 525,134 shares, compared to its average volume of 10,201,092. The company’s fifty day moving average is $37.45. Schlumberger has a 1-year low of $34.46 and a 1-year high of $69.28. The stock has a market capitalization of $55.96 billion, a PE ratio of 25.06, a P/E/G ratio of 2.59 and a beta of 1.45. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.45.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $2.00 annualized dividend and a dividend yield of 4.90%. Schlumberger’s dividend payout ratio is currently 123.46%.
In related news, CFO Simon Ayat sold 25,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $46.10, for a total value of $1,152,500.00. Following the completion of the sale, the chief financial officer now directly owns 255,971 shares in the company, valued at approximately $11,800,263.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alexander C. Juden sold 8,643 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $43.29, for a total value of $374,155.47. Following the completion of the sale, the insider now owns 70,260 shares of the company’s stock, valued at $3,041,555.40. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Country Trust Bank boosted its stake in Schlumberger by 3.3% in the 2nd quarter. Country Trust Bank now owns 469,154 shares of the oil and gas company’s stock valued at $18,644,000 after purchasing an additional 15,181 shares during the period. Welch Group LLC boosted its stake in Schlumberger by 5.4% in the 2nd quarter. Welch Group LLC now owns 10,231 shares of the oil and gas company’s stock valued at $407,000 after purchasing an additional 526 shares during the period. Founders Capital Management boosted its stake in Schlumberger by 242.2% in the 2nd quarter. Founders Capital Management now owns 61,629 shares of the oil and gas company’s stock valued at $2,449,000 after purchasing an additional 43,620 shares during the period. Tributary Capital Management LLC boosted its stake in Schlumberger by 40.5% in the 2nd quarter. Tributary Capital Management LLC now owns 8,675 shares of the oil and gas company’s stock valued at $345,000 after purchasing an additional 2,500 shares during the period. Finally, AMF Pensionsforsakring AB boosted its stake in Schlumberger by 2.7% in the 2nd quarter. AMF Pensionsforsakring AB now owns 1,995,809 shares of the oil and gas company’s stock valued at $79,313,000 after purchasing an additional 53,020 shares during the period. Institutional investors and hedge funds own 77.16% of the company’s stock.
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.
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