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

Schlumberger (NYSE:SLB) released its quarterly earnings results on Friday. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02, Zacks reports. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. During the same quarter in the prior year, the company posted $0.86 EPS.

Schlumberger Trading Up 1.3 %

Shares of SLB opened at $41.16 on Friday. The stock’s 50-day moving average price is $40.89 and its 200 day moving average price is $42.93. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger has a 12-month low of $36.52 and a 12-month high of $55.69. The firm has a market capitalization of $58.13 billion, a price-to-earnings ratio of 13.24, a P/E/G ratio of 1.35 and a beta of 1.52.

Wall Street Analysts Forecast Growth

Several research firms have commented on SLB. TD Cowen lowered their target price on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Jefferies Financial Group lowered their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Bank of America reduced their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Barclays lowered their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Finally, Wells Fargo & Company reduced their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Six research 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $56.03.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Company Profile

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.