Schlumberger Limited. (NYSE:SLB) Expected to Announce Quarterly Sales of $8.50 Billion

Wall Street analysts expect that Schlumberger Limited. (NYSE:SLB) will report $8.50 billion in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Schlumberger’s earnings, with estimates ranging from $8.43 billion to $8.56 billion. Schlumberger also posted sales of $8.50 billion in the same quarter last year. The company is scheduled to announce its next earnings report before the market opens on Friday, October 18th.

On average, analysts expect that Schlumberger will report full-year sales of $33.26 billion for the current year, with estimates ranging from $33.02 billion to $33.55 billion. For the next year, analysts forecast that the business will post sales of $35.39 billion, with estimates ranging from $32.87 billion to $38.60 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Schlumberger.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company had revenue of $8.27 billion for the quarter, compared to analysts’ expectations of $8.11 billion. During the same quarter last year, the company posted $0.43 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis.

Several equities research analysts recently issued reports on SLB shares. Barclays upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $45.00 to $50.00 in a report on Monday, September 16th. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $41.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. Bank of America dropped their target price on shares of Schlumberger from $51.00 to $45.00 and set a “buy” rating on the stock in a report on Wednesday, August 28th. Citigroup dropped their target price on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Finally, Piper Jaffray Companies set a $40.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, July 1st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $49.39.

SLB stock remained flat at $$30.71 on Thursday. 15,112,590 shares of the company traded hands, compared to its average volume of 10,592,853. Schlumberger has a 52 week low of $30.65 and a 52 week high of $63.65. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average of $34.30 and a 200-day moving average of $38.34. The company has a market capitalization of $44.09 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 2.26 and a beta of 1.49.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 6.51%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio is presently 123.46%.

In other news, insider Stephanie Cox sold 24,057 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $40.59, for a total transaction of $976,473.63. Following the sale, the insider now directly owns 46,354 shares in the company, valued at approximately $1,881,508.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $38.93, for a total transaction of $473,038.43. Following the sale, the executive vice president now owns 130,000 shares in the company, valued at $5,060,900. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. BTC Capital Management Inc. raised its position in shares of Schlumberger by 3.6% during the 2nd quarter. BTC Capital Management Inc. now owns 88,704 shares of the oil and gas company’s stock valued at $3,520,000 after purchasing an additional 3,056 shares during the period. Camarda Financial Advisors LLC raised its position in shares of Schlumberger by 7.4% during the 2nd quarter. Camarda Financial Advisors LLC now owns 47,628 shares of the oil and gas company’s stock valued at $1,893,000 after purchasing an additional 3,275 shares during the period. Chesley Taft & Associates LLC raised its position in shares of Schlumberger by 2.1% during the 2nd quarter. Chesley Taft & Associates LLC now owns 21,500 shares of the oil and gas company’s stock valued at $854,000 after purchasing an additional 450 shares during the period. Griffin Asset Management Inc. raised its position in shares of Schlumberger by 44.3% during the 1st quarter. Griffin Asset Management Inc. now owns 133,874 shares of the oil and gas company’s stock valued at $5,833,000 after purchasing an additional 41,076 shares during the period. Finally, Manning & Napier Group LLC increased its holdings in Schlumberger by 4.6% in the 2nd quarter. Manning & Napier Group LLC now owns 3,437,572 shares of the oil and gas company’s stock valued at $136,608,000 after acquiring an additional 152,088 shares during the last quarter. Hedge funds and other institutional investors own 76.66% of the company’s stock.

About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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