Seaport Global Securities Weighs in on Schlumberger Limited.’s FY2017 Earnings (SLB)

Schlumberger Limited. (NYSE:SLB) – Research analysts at Seaport Global Securities lowered their FY2017 earnings estimates for shares of Schlumberger in a research report issued to clients and investors on Monday. Seaport Global Securities analyst M. Urban now expects that the oil and gas company will earn $1.44 per share for the year, down from their previous forecast of $1.48. Seaport Global Securities also issued estimates for Schlumberger’s Q4 2017 earnings at $0.42 EPS, Q1 2018 earnings at $0.43 EPS and Q2 2018 earnings at $0.45 EPS.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 20th. The oil and gas company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The business had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $7.91 billion. Schlumberger had a net margin of 1.86% and a return on equity of 4.42%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the company posted $0.25 EPS.

Several other equities research analysts have also recently weighed in on the stock. Goldman Sachs Group cut shares of Schlumberger from a “conviction-buy” rating to a “buy” rating and set a $75.00 price objective for the company. in a research report on Monday, November 13th. Piper Jaffray Companies set a $74.00 price objective on shares of Schlumberger and gave the company a “buy” rating in a research report on Saturday, October 21st. BMO Capital Markets restated a “buy” rating and issued a $74.00 price objective on shares of Schlumberger in a research report on Wednesday, September 6th. Sanford C. Bernstein restated an “outperform” rating and issued a $80.00 price objective on shares of Schlumberger in a research report on Wednesday, September 6th. Finally, Citigroup lowered their price objective on shares of Schlumberger from $80.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $79.31.

Shares of Schlumberger (NYSE SLB) opened at $63.60 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The stock has a market cap of $86,010.91, a PE ratio of 48.13, a P/E/G ratio of 1.90 and a beta of 1.01. Schlumberger has a 1 year low of $61.02 and a 1 year high of $87.84.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Investors of record on Wednesday, December 6th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.14%. The ex-dividend date is Tuesday, December 5th. Schlumberger’s payout ratio is 512.83%.

In related news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $62.63, for a total transaction of $219,205.00. Following the transaction, the director now owns 1,500 shares of the company’s stock, valued at approximately $93,945. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.38% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Parametric Portfolio Associates LLC lifted its stake in Schlumberger by 3.4% in the third quarter. Parametric Portfolio Associates LLC now owns 2,362,491 shares of the oil and gas company’s stock valued at $164,807,000 after buying an additional 78,120 shares in the last quarter. Hellman Jordan Management Co. Inc. MA lifted its stake in Schlumberger by 6.6% in the third quarter. Hellman Jordan Management Co. Inc. MA now owns 15,153 shares of the oil and gas company’s stock valued at $1,057,000 after buying an additional 943 shares in the last quarter. AXA lifted its stake in Schlumberger by 10.5% in the third quarter. AXA now owns 278,915 shares of the oil and gas company’s stock valued at $19,457,000 after buying an additional 26,607 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in Schlumberger by 212.5% in the third quarter. Chicago Partners Investment Group LLC now owns 2,500 shares of the oil and gas company’s stock valued at $174,000 after buying an additional 1,700 shares in the last quarter. Finally, First Fiduciary Investment Counsel Inc. lifted its stake in Schlumberger by 56.5% in the third quarter. First Fiduciary Investment Counsel Inc. now owns 243,312 shares of the oil and gas company’s stock valued at $16,973,000 after buying an additional 87,873 shares in the last quarter. 79.32% of the stock is currently owned by institutional investors and hedge funds.

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About Schlumberger

Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

Earnings History and Estimates for Schlumberger (NYSE:SLB)

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