Q3 2024 EPS Estimates for Schlumberger Limited (NYSE:SLB) Decreased by Atb Cap Markets

Schlumberger Limited (NYSE:SLB) – Stock analysts at Atb Cap Markets cut their Q3 2024 EPS estimates for shares of Schlumberger in a research note issued to investors on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will post earnings per share of $0.87 for the quarter, down from their prior forecast of $0.88. The consensus estimate for Schlumberger’s current full-year earnings is $3.49 per share. Atb Cap Markets also issued estimates for Schlumberger’s FY2024 earnings at $3.38 EPS.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company posted $0.72 earnings per share.

Several other research analysts have also recently issued reports on the company. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Citigroup dropped their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Morgan Stanley reduced their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Dbs Bank began coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $65.29.

Schlumberger Stock Performance

SLB stock opened at $43.94 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger has a 1 year low of $38.66 and a 1 year high of $61.20. The company has a market cap of $62.39 billion, a P/E ratio of 14.60, a price-to-earnings-growth ratio of 0.90 and a beta of 1.51. The stock’s fifty day moving average price is $43.48 and its 200-day moving average price is $46.87.

Institutional Trading of Schlumberger

Large investors have recently added to or reduced their stakes in the company. Financial Advocates Investment Management grew its holdings in shares of Schlumberger by 3.4% in the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 218 shares in the last quarter. Chilton Capital Management LLC grew its stake in shares of Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after buying an additional 219 shares in the last quarter. First PREMIER Bank increased its holdings in shares of Schlumberger by 8.7% in the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after buying an additional 227 shares during the last quarter. Team Hewins LLC raised its position in shares of Schlumberger by 3.0% during the 1st quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after buying an additional 229 shares in the last quarter. Finally, Sunbelt Securities Inc. lifted its holdings in shares of Schlumberger by 2.2% in the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after acquiring an additional 230 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In related news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock valued at $9,048,624 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.50%. Schlumberger’s payout ratio is 36.54%.

About Schlumberger

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.