Schlumberger Limited. (SLB) Posts Quarterly Earnings Results, Hits Estimates

21 April, 2017, 21:42 | Author: Leticia Walters
  • Jim Urquhart  Reuters

The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Several large investors have recently added to or reduced their stakes in the stock. Insiders own 0.36% of the company's stock. America First Investment Advsrs Ltd Com reported 4.18% stake. The equity has slowed down in recent weeks, with shares lower about -11.72% in the past three months. WealthTrust Arizona LLC increased its position in Schlumberger 5.5% in the third quarter. Huntington National Bank now owns 476,191 shares of the oil and gas company's stock valued at $37,191,000 after buying an additional 2,562 shares in the last quarter.

Heading into the earnings release, covering analysts have a consensus target price of $96.06 on Schlumberger Limited shares.

While being a globally diversified company had placed SLB in a better position than most of its US-listed peers when oil production activity dried up in NAM in the wake of an oil-price-crash, the same can act against it in this quarter as a lion's share of its revenue (nearly 75%) comes from outside NAM. The rating was downgraded by Standpoint Research on Wednesday, April 20 to "Hold".

In the prior 12 months Schlumberger Limited.'s stock price has decreased by -4.85% from 78.3 to 74.5. Stephens restated an overweight rating and set a $89.00 target price on shares of Schlumberger a report on Monday, March 27th.

Schlumberger Limited. has 1,391,475,000 shares in issue which have a share price of 74.5 giving Schlumberger Limited. a market capitalisation of 103.66B United States dollars. The company now has a consensus rating of "Buy" and an average price target of $95.83. The company had a trading volume of 9,559,725 shares. The stock's 50 day moving average is $78.61 and its 200 day moving average is $81.52. Mcdaniel Terry has invested 3.32% in Schlumberger Limited.

WABCO Holdings Inc. (NYSE:WBC) revealed an EPS of $1.47 for the first quarter that is ahead of the estimates by four cents.

Revenue: Revenues of $6,894 million came below the Zacks Consensus Estimate of $6,977 million.

Schlumberger (SLB) met earnings forecasts Friday, revenue climbed for the first time in two years but still fell short, and management warned the industry's underinvestment is unsustainable. During the same quarter in the previous year, the company posted $0.40 earnings per share.

Still, Schlumberger expects its second-quarter earnings per share to increase 15-20 percent from the first, buoyed by strong North America demand.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 1st will be issued a dividend of $0.50 per share. Schlumberger's current dividend yield of 2.6% is better than the 1.9% yield for the Zacks categorized Oil & Gas-Field Services industry. Schlumberger Limited.'s dividend payout ratio is -169.49%.


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