Schlumberger (NYSE:SLB) Trading 7.4% Higher Following Better-Than-Expected Earnings

Schlumberger Limited (NYSE:SLB - Get Free Report) traded up 7.4% on Friday after the company announced better than expected quarterly earnings. The company traded as high as $43.82 and last traded at $44.13. 6,062,981 shares traded hands during trading, a decline of 47% from the average session volume of 11,501,938 shares. The stock had previously closed at $41.09.

The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. The firm's revenue for the quarter was up 3.3% compared to the same quarter last year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.62%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio (DPR) is 35.37%.

Analysts Set New Price Targets

Several research firms have issued reports on SLB. Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. Barclays cut their price target on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, December 18th. TD Cowen reduced their target price on Schlumberger from $65.00 to $53.00 and set a "buy" rating on the stock in a research report on Wednesday, January 8th. Susquehanna lowered their price target on Schlumberger from $60.00 to $56.00 and set a "positive" rating for the company in a report on Monday, October 21st. Finally, JPMorgan Chase & Co. cut their price objective on shares of Schlumberger from $55.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, January 2nd. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $56.03.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company'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 transaction, the executive vice president now owns 211,937 shares of the company's stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.26% of the company's stock.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its stake in Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock worth $3,808,476,000 after acquiring an additional 528,279 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company's stock valued at $1,195,290,000 after purchasing an additional 239,966 shares during the period. Legal & General Group Plc grew its holdings in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company's stock valued at $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company's stock worth $470,425,000 after buying an additional 1,916,851 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in Schlumberger by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company's stock valued at $335,214,000 after buying an additional 31,718 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Stock Up 6.1 %

The firm has a market cap of $61.54 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The business has a 50-day moving average price of $40.85 and a two-hundred day moving average price of $42.92. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

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.