Schlumberger (NYSE:SLB) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Schlumberger (NYSE:SLB - Get Free Report) posted its quarterly earnings data on Friday. The oil and gas company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.01, RTT News reports. Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The company had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period in the prior year, the company posted $0.85 EPS. The firm's revenue for the quarter was down 6.5% on a year-over-year basis.

Schlumberger Stock Down 3.7%

Shares of NYSE SLB traded down $1.30 during midday trading on Friday, reaching $33.37. 35,360,423 shares of the company's stock traded hands, compared to its average volume of 14,309,632. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.51. The stock's 50 day simple moving average is $34.86 and its 200-day simple moving average is $37.53. Schlumberger has a one year low of $31.11 and a one year high of $50.94. The company has a market cap of $45.39 billion, a price-to-earnings ratio of 11.31, a P/E/G ratio of 9.32 and a beta of 1.01.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.42%. Schlumberger's dividend payout ratio is presently 38.64%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SLB shares. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Wells Fargo & Company reduced their price objective on shares of Schlumberger from $46.00 to $43.00 and set an "overweight" rating on the stock in a research report on Thursday, June 5th. UBS Group increased their price objective on shares of Schlumberger from $44.00 to $45.00 and gave the stock a "buy" rating in a research report on Wednesday, July 2nd. Barclays reduced their target price on shares of Schlumberger from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Finally, Stifel Nicolaus reduced their target price on shares of Schlumberger from $54.00 to $52.00 and set a "buy" rating on the stock in a research report on Wednesday. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $50.56.

Insider Activity

In other Schlumberger news, Director La Chevardiere Patrick De sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the completion of the sale, the director directly owned 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.26% of the company's stock.

Institutional Investors Weigh In On Schlumberger

A hedge fund recently raised its stake in Schlumberger stock. Brighton Jones LLC lifted its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 21.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,611 shares of the oil and gas company's stock after buying an additional 1,166 shares during the period. Brighton Jones LLC's holdings in Schlumberger were worth $253,000 at the end of the most recent quarter. Institutional investors own 81.99% 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.