Schlumberger Limited. (NYSE:SLB) – Griffin Securities decreased their Q2 2020 earnings per share (EPS) estimates for Schlumberger in a report released on Monday, June 3rd, Zacks Investment Research reports. Griffin Securities analyst K. Simpson now anticipates that the oil and gas company will earn $0.54 per share for the quarter, down from their previous forecast of $0.55. Griffin Securities also issued estimates for Schlumberger’s Q3 2020 earnings at $0.62 EPS, Q4 2020 earnings at $0.65 EPS and FY2020 earnings at $2.25 EPS.
A number of other equities analysts have also weighed in on the company. Barclays lowered their target price on Schlumberger from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 9th. Tudor Pickering lowered Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 target price on the stock. in a research note on Monday, April 22nd. SunTrust Banks increased their target price on Schlumberger to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Goldman Sachs Group started coverage on Schlumberger in a research note on Sunday, March 10th. They set a “buy” rating and a $55.00 target price on the stock. Finally, Jefferies Financial Group lowered Schlumberger from a “buy” rating to a “hold” rating and lowered their target price for the stock from $50.00 to $45.00 in a research note on Friday, March 15th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $55.68.
Schlumberger (NYSE:SLB) last released its quarterly earnings data on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.30. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. The company had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same period last year, the firm posted $0.38 earnings per share. The business’s revenue was up .6% on a year-over-year basis.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Wednesday, June 5th will be paid a $0.50 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $2.00 annualized dividend and a dividend yield of 5.03%. Schlumberger’s payout ratio is 123.46%.
In other news, CFO Simon Ayat sold 25,000 shares of Schlumberger stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $46.10, for a total value of $1,152,500.00. Following the transaction, the chief financial officer now owns 255,971 shares in the company, valued at approximately $11,800,263.10. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Alexander C. Juden sold 8,643 shares of Schlumberger stock in a transaction on Friday, April 26th. The shares were sold at an average price of $43.29, for a total value of $374,155.47. Following the completion of the transaction, the insider now owns 70,260 shares in the company, valued at approximately $3,041,555.40. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ellis Investment Partners LLC acquired a new stake in shares of Schlumberger during the 1st quarter valued at $26,000. CX Institutional boosted its holdings in shares of Schlumberger by 158.4% during the 1st quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 396 shares in the last quarter. Berman Capital Advisors LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at $31,000. Bruderman Asset Management LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at $33,000. Finally, Sontag Advisory LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at $36,000. 77.15% of the stock is currently owned by institutional investors.
Schlumberger Company Profile
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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