Schlumberger (NYSE:SLB) Announces Earnings Results, Beats Estimates By $0.02 EPS

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

Schlumberger Stock Performance

Shares of Schlumberger stock traded up $2.89 during trading hours on Friday, reaching $43.98. The company's stock had a trading volume of 24,656,647 shares, compared to its average volume of 13,268,740. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger has a one year low of $36.52 and a one year high of $55.69. The company's 50 day simple moving average is $40.89 and its 200 day simple moving average is $42.93. The stock has a market cap of $62.10 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio is 35.37%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of recent research reports. Stifel Nicolaus lowered their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, December 23rd. Barclays lowered their price objective on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, December 18th. BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday. TD Cowen lowered their price target on shares of Schlumberger from $65.00 to $53.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, Bank of America dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and an average price target of $56.03.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the 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 owns 211,937 shares of the company's stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by insiders.

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.