Q1 2017 EPS Estimates for Schlumberger NV (SLB) Lifted by Analyst
Schlumberger NV (NYSE:SLB) – Equities researchers at Jefferies Group increased their Q1 2017 EPS estimates for shares of Schlumberger NV in a research report issued on Tuesday. Jefferies Group analyst B. Handler now expects that the brokerage will post earnings of $0.31 per share for the quarter, up from their previous forecast of $0.29. Jefferies Group currently has a “Hold” rating and a $88.00 target price on the stock. Jefferies Group also issued estimates for Schlumberger NV’s Q2 2017 earnings at $0.42 EPS, Q3 2017 earnings at $0.51 EPS, FY2017 earnings at $1.90 EPS and FY2018 earnings at $3.80 EPS.
Schlumberger NV (NYSE:SLB) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The firm had revenue of $7.16 billion for the quarter, compared to analysts’ expectations of $7.09 billion. Schlumberger NV had a negative net margin of 5.64% and a positive return on equity of 6.88%.
A number of other brokerages have also commented on SLB. Citigroup Inc. dropped their target price on Schlumberger NV from $92.00 to $90.00 and set a “buy” rating on the stock in a research report on Monday, September 12th. Zacks Investment Research lowered Schlumberger NV from a “hold” rating to a “sell” rating in a research report on Tuesday. Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Schlumberger NV in a research report on Tuesday, July 5th. Cowen and Company upped their target price on Schlumberger NV from $85.00 to $92.00 and gave the company an “outperform” rating in a research report on Monday, July 25th. Finally, Guggenheim reiterated a “buy” rating on shares of Schlumberger NV in a research report on Wednesday, August 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $90.69.
Schlumberger NV (NYSE:SLB) traded up 3.18% during midday trading on Wednesday, hitting $83.98. 6,186,038 shares of the stock traded hands. The firm’s market cap is $116.79 billion. Schlumberger NV has a 12 month low of $59.60 and a 12 month high of $84.30. The company’s 50 day moving average price is $78.67 and its 200 day moving average price is $78.31.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital World Investors raised its position in Schlumberger NV by 33.4% in the second quarter. Capital World Investors now owns 89,278,480 shares of the company’s stock valued at $7,060,142,000 after buying an additional 22,351,159 shares during the period. Vanguard Group Inc. raised its position in Schlumberger NV by 12.8% in the second quarter. Vanguard Group Inc. now owns 88,801,969 shares of the company’s stock valued at $7,022,460,000 after buying an additional 10,096,266 shares during the period. State Street Corp raised its position in Schlumberger NV by 10.1% in the second quarter. State Street Corp now owns 63,598,644 shares of the company’s stock valued at $5,029,383,000 after buying an additional 5,820,269 shares during the period. Alliancebernstein L.P. raised its position in Schlumberger NV by 51.8% in the second quarter. Alliancebernstein L.P. now owns 9,778,108 shares of the company’s stock valued at $773,253,000 after buying an additional 3,335,102 shares during the period. Finally, Emerald Acquisition Ltd. purchased a new position in Schlumberger NV during the second quarter valued at approximately $262,975,000. 78.32% of the stock is currently owned by institutional investors.
In other Schlumberger NV news, insider Howard Guild sold 11,900 shares of Schlumberger NV stock in a transaction that occurred on Monday, July 25th. The stock was sold at an average price of $81.32, for a total transaction of $967,708.00. Following the transaction, the insider now owns 19,781 shares of the company’s stock, valued at $1,608,590.92. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Tore I. Sandvold sold 2,500 shares of Schlumberger NV stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $78.09, for a total value of $195,225.00. Following the transaction, the director now directly owns 17,750 shares in the company, valued at approximately $1,386,097.50. The disclosure for this sale can be found here. Insiders own 0.36% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Friday, October 14th. Stockholders of record on Wednesday, September 7th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Friday, September 2nd. Schlumberger NV’s dividend payout ratio (DPR) is presently -168.07%.
About Schlumberger NV
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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