Schlumberger Limited. (NYSE:SLB) – Stock analysts at Jefferies Financial Group reduced their FY2022 earnings per share estimates for Schlumberger in a research report issued on Monday, April 22nd. Jefferies Financial Group analyst B. Handler now anticipates that the oil and gas company will post earnings per share of $4.00 for the year, down from their previous estimate of $4.05. Jefferies Financial Group has a “Hold” rating and a $45.00 price target on the stock.
Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. The firm had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period in the prior year, the business earned $0.38 EPS. The company’s revenue for the quarter was up .6% compared to the same quarter last year.
A number of other equities research analysts have also weighed in on SLB. Zacks Investment Research reissued a “strong sell” rating on shares of Schlumberger in a research note on Monday, December 31st. Citigroup lowered their target price on Schlumberger from $57.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, January 4th. Royal Bank of Canada set a $58.00 target price on Schlumberger and gave the company a “buy” rating in a research note on Friday, January 18th. Credit Suisse Group set a $44.00 target price on Schlumberger and gave the company a “hold” rating in a research note on Friday, January 18th. Finally, Goldman Sachs Group initiated coverage on Schlumberger in a research note on Sunday, March 10th. They issued a “buy” rating and a $55.00 target price for the company. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $57.53.
NYSE SLB opened at $43.30 on Wednesday. Schlumberger has a 1-year low of $34.99 and a 1-year high of $75.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 0.87. The stock has a market capitalization of $60.66 billion, a PE ratio of 26.73, a P/E/G ratio of 1.90 and a beta of 1.33.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Washington Trust Bank raised its position in shares of Schlumberger by 4.3% in the 1st quarter. Washington Trust Bank now owns 5,719 shares of the oil and gas company’s stock worth $249,000 after acquiring an additional 237 shares in the last quarter. Kempner Capital Management Inc. raised its position in shares of Schlumberger by 0.3% in the 4th quarter. Kempner Capital Management Inc. now owns 96,914 shares of the oil and gas company’s stock worth $3,497,000 after acquiring an additional 276 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of Schlumberger by 2.4% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 11,941 shares of the oil and gas company’s stock worth $431,000 after acquiring an additional 278 shares in the last quarter. Security National Trust Co. raised its position in shares of Schlumberger by 3.8% in the 1st quarter. Security National Trust Co. now owns 8,300 shares of the oil and gas company’s stock worth $362,000 after acquiring an additional 300 shares in the last quarter. Finally, BTR Capital Management Inc. raised its position in shares of Schlumberger by 0.4% in the 1st quarter. BTR Capital Management Inc. now owns 68,734 shares of the oil and gas company’s stock worth $2,995,000 after acquiring an additional 305 shares in the last quarter. 79.00% of the stock is owned by institutional investors and hedge funds.
In other Schlumberger news, CFO Simon Ayat sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $46.10, for a total transaction of $1,152,500.00. Following the completion of the transaction, the chief financial officer now owns 255,971 shares of the company’s stock, valued at approximately $11,800,263.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.48% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.62%. The ex-dividend date of this dividend is Tuesday, June 4th. Schlumberger’s payout ratio is 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.
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