SLB (NYSE:SLB) Posts Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• SLB reported a quarterly earnings per share (EPS) of $0.69, exceeding analysts' expectations of $0.66, while revenue was $8.93 billion, slightly below the estimate of $8.99 billion.
• Insider Dianne B. Ralston sold 39,727 shares of SLB stock, reducing her ownership by 16.42%, while the company has institutional investors owning 81.99% of the stock.
• SLB has received a mix of ratings from analysts, with two analysts giving it a Strong Buy rating and an average price target of $52.00.

SLB (NYSE:SLB - Get Free Report) posted its quarterly earnings results on Friday. The oil and gas company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.67 by $0.02, Zacks reports. SLB had a return on equity of 20.99% and a net margin of 11.53%.The firm had revenue of $8.93 billion during the quarter, compared to analysts' expectations of $8.99 billion. During the same quarter last year, the firm earned $0.89 earnings per share. The business's revenue for the quarter was down 2.5% on a year-over-year basis.

SLB Price Performance

SLB stock opened at $32.88 on Friday. The business's fifty day moving average price is $34.50 and its 200 day moving average price is $34.65. SLB has a 12-month low of $31.11 and a 12-month high of $44.97. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $49.11 billion, a PE ratio of 11.26, a P/E/G ratio of 9.10 and a beta of 0.97.

Insiders Place Their Bets

In other SLB news, insider Dianne B. Ralston sold 39,727 shares of the business's stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the sale, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SLB

Several large investors have recently added to or reduced their stakes in SLB. Diversify Advisory Services LLC raised its stake in shares of SLB by 7.6% in the 2nd quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company's stock valued at $373,000 after purchasing an additional 799 shares during the period. Brighton Jones LLC grew its holdings in shares of SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after buying an additional 1,166 shares in the last quarter. Stonebridge Capital Advisors LLC raised its position in SLB by 0.5% in the 2nd quarter. Stonebridge Capital Advisors LLC now owns 267,131 shares of the oil and gas company's stock valued at $9,029,000 after buying an additional 1,381 shares during the last quarter. Teza Capital Management LLC lifted its stake in SLB by 7.5% in the 2nd quarter. Teza Capital Management LLC now owns 30,318 shares of the oil and gas company's stock valued at $1,025,000 after acquiring an additional 2,128 shares in the last quarter. Finally, MUFG Securities EMEA plc acquired a new position in SLB during the 2nd quarter worth approximately $136,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLB has been the subject of several analyst reports. Zacks Research upgraded SLB from a "strong sell" rating to a "hold" rating in a report on Monday, September 15th. Wells Fargo & Company lowered shares of SLB from a "strong-buy" rating to a "hold" rating in a report on Sunday, July 20th. UBS Group reduced their target price on shares of SLB from $45.00 to $44.00 and set a "buy" rating on the stock in a research note on Wednesday, August 20th. Melius Research initiated coverage on shares of SLB in a report on Wednesday, August 20th. They issued a "buy" rating and a $82.00 target price on the stock. Finally, Susquehanna cut their price target on shares of SLB from $44.00 to $42.00 and set a "positive" rating for the company in a report on Monday, July 21st. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $52.00.

About SLB

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.