Q4 2024 EPS Estimates for Schlumberger Limited (NYSE:SLB) Cut by Analyst

Schlumberger Limited (NYSE:SLB) – Equities researchers at Griffin Securities decreased their Q4 2024 EPS estimates for shares of Schlumberger in a research report issued to clients and investors on Sunday, April 21st. Griffin Securities analyst K. Simpson now anticipates that the oil and gas company will post earnings of $1.01 per share for the quarter, down from their previous estimate of $1.06. The consensus estimate for Schlumberger’s current full-year earnings is $3.50 per share.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. Schlumberger’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share.

A number of other equities analysts also recently commented on SLB. HSBC reiterated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. TD Cowen reduced their price objective on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday. Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 price target on shares of Schlumberger in a research report on Monday. Barclays lowered their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a research report on Monday. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.67.

Schlumberger Trading Up 0.7 %

SLB opened at $49.45 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The firm has a market cap of $70.58 billion, a price-to-earnings ratio of 16.43, a PEG ratio of 0.96 and a beta of 1.60. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12. The stock has a fifty day moving average price of $51.73 and a 200-day moving average price of $52.23.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.22%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is presently 36.54%.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at $13,151,825.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,545 shares of company stock valued at $4,458,430. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Institutional investors and hedge funds have recently made changes to their positions in the business. BluePath Capital Management LLC acquired a new position in shares of Schlumberger during the 3rd quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Schlumberger during the fourth quarter valued at approximately $26,000. Register Financial Advisors LLC acquired a new position in shares of Schlumberger during the first quarter valued at approximately $27,000. MCF Advisors LLC lifted its position in shares of Schlumberger by 1,355.9% in the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 461 shares in the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth approximately $32,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.