Schlumberger (NYSE:SLB) Releases Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Schlumberger (NYSE:SLB) posted its quarterly earnings data on Friday. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02, Zacks reports. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. During the same period in the previous year, the business earned $0.86 EPS.

Schlumberger Stock Up 1.3 %

Shares of Schlumberger stock opened at $41.16 on Friday. The company’s fifty day simple moving average is $40.89 and its two-hundred day simple moving average is $42.93. Schlumberger has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a market cap of $58.13 billion, a P/E ratio of 13.24, a PEG ratio of 1.35 and a beta of 1.52.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets decreased their target price on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $56.03.

Schlumberger Company Profile

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.