Schlumberger Limited (NYSE:SLB - Get Free Report)'s share price traded up 7.4% on Friday following a stronger than expected earnings report. The company traded as high as $43.82 and last traded at $44.13. 6,062,981 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 11,501,938 shares. The stock had previously closed at $41.09.
The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. During the same quarter last year, the company earned $0.86 earnings per share. The company's quarterly revenue was up 3.3% on a year-over-year basis.
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.62%. This is an increase from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is currently 35.37%.
SLB has been the subject of several research reports. BMO Capital Markets lowered their price objective on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday. Bank of America lowered their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Sanford C. Bernstein raised shares of Schlumberger to a "strong-buy" rating in a report on Tuesday, November 12th. Wells Fargo & Company cut their price target on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, December 17th. Finally, Barclays decreased their price objective on Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $56.03.
Read Our Latest Stock Report on SLB
In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.26% of the company's stock.
A number of hedge funds have recently made changes to their positions in the company. Whalen Wealth Management Inc. acquired a new position in Schlumberger in the 4th quarter valued at $377,000. Avior Wealth Management LLC grew its holdings in shares of Schlumberger by 41.8% during the fourth quarter. Avior Wealth Management LLC now owns 11,862 shares of the oil and gas company's stock worth $498,000 after buying an additional 3,498 shares in the last quarter. Baker Ellis Asset Management LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth $457,000. Missouri Trust & Investment Co raised its holdings in Schlumberger by 9.4% in the 4th quarter. Missouri Trust & Investment Co now owns 10,450 shares of the oil and gas company's stock valued at $401,000 after acquiring an additional 900 shares during the last quarter. Finally, Bourne Lent Asset Management Inc. increased its holdings in shares of Schlumberger by 55.0% in the fourth quarter. Bourne Lent Asset Management Inc. now owns 8,450 shares of the oil and gas company's stock valued at $324,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.
The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The business has a 50 day simple moving average of $40.85 and a 200-day simple moving average of $42.92. The firm has a market capitalization of $61.54 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.35 and a beta of 1.52.
Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Schlumberger, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Schlumberger wasn't on the list.
While Schlumberger currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.