Schlumberger Limited. (NYSE:SLB) – Investment analysts at Piper Sandler cut their FY2021 earnings per share (EPS) estimates for shares of Schlumberger in a report issued on Thursday, June 25th. Piper Sandler analyst B. Herbert now expects that the oil and gas company will post earnings of $0.09 per share for the year, down from their prior estimate of $0.13. Piper Sandler currently has a “Neutral” rating and a $17.00 target price on the stock.
SLB has been the topic of a number of other research reports. Wolfe Research upgraded shares of Schlumberger from a “peer perform” rating to an “outperform” rating in a research report on Thursday, March 19th. JPMorgan Chase & Co. upped their target price on shares of Schlumberger from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, June 18th. UBS Group upped their target price on shares of Schlumberger from $17.50 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Cfra cut shares of Schlumberger from a “hold” rating to a “sell” rating and reduced their target price for the company from $42.00 to $15.00 in a report on Monday, March 9th. Finally, HSBC upped their target price on shares of Schlumberger from $17.10 to $18.10 and gave the company a “hold” rating in a report on Wednesday, June 24th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $23.16.
Shares of NYSE SLB opened at $18.01 on Monday. The company has a market cap of $25.29 billion, a PE ratio of -1.39, a P/E/G ratio of 20.55 and a beta of 2.10. The firm’s 50 day moving average price is $18.75 and its 200-day moving average price is $25.36. Schlumberger has a 52-week low of $11.87 and a 52-week high of $41.40. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.91 and a current ratio of 1.23.
Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 17th. The oil and gas company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. The firm had revenue of $7.46 billion for the quarter, compared to the consensus estimate of $7.52 billion. Schlumberger had a negative net margin of 55.19% and a positive return on equity of 7.88%. The business’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.30 earnings per share.
Several institutional investors have recently added to or reduced their stakes in SLB. Royal Fund Management LLC purchased a new position in Schlumberger in the 1st quarter worth about $26,000. Banco de Sabadell S.A increased its stake in Schlumberger by 66.7% in the 1st quarter. Banco de Sabadell S.A now owns 2,000 shares of the oil and gas company’s stock worth $27,000 after buying an additional 800 shares during the period. Cornerstone Advisors Inc. increased its stake in Schlumberger by 83.4% in the 1st quarter. Cornerstone Advisors Inc. now owns 2,153 shares of the oil and gas company’s stock worth $29,000 after buying an additional 979 shares during the period. Prime Capital Investment Advisors LLC increased its stake in Schlumberger by 43.8% in the 1st quarter. Prime Capital Investment Advisors LLC now owns 2,668 shares of the oil and gas company’s stock worth $36,000 after buying an additional 812 shares during the period. Finally, Verus Capital Partners LLC increased its stake in Schlumberger by 52.7% in the 1st quarter. Verus Capital Partners LLC now owns 2,932 shares of the oil and gas company’s stock worth $40,000 after buying an additional 1,012 shares during the period. Hedge funds and other institutional investors own 75.03% of the company’s stock.
In other news, EVP Patrick Schorn sold 34,468 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $17.83, for a total value of $614,564.44. Following the completion of the sale, the executive vice president now owns 80,000 shares in the company, valued at approximately $1,426,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Alexander C. Juden sold 35,000 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $17.35, for a total transaction of $607,250.00. Following the completion of the sale, the general counsel now owns 92,103 shares of the company’s stock, valued at approximately $1,597,987.05. The disclosure for this sale can be found here. Insiders have sold 84,290 shares of company stock valued at $1,506,249 in the last quarter. 0.58% of the stock is owned by company insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Tuesday, June 2nd. This represents a $0.50 annualized dividend and a yield of 2.78%. Schlumberger’s dividend payout ratio (DPR) is currently 34.01%.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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