FY2024 EPS Estimate for Schlumberger Decreased by Analyst

Schlumberger Limited (NYSE:SLB) – Research analysts at Capital One Financial lowered their FY2024 earnings per share estimates for Schlumberger in a note issued to investors on Monday, October 21st. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will post earnings per share of $3.39 for the year, down from their prior estimate of $3.49. The consensus estimate for Schlumberger’s current full-year earnings is $3.41 per share. Capital One Financial also issued estimates for Schlumberger’s Q4 2024 earnings at $0.91 EPS, Q1 2025 earnings at $0.78 EPS, Q2 2025 earnings at $0.91 EPS, Q3 2025 earnings at $0.95 EPS and Q4 2025 earnings at $1.01 EPS.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $0.78 earnings per share.

A number of other research analysts also recently weighed in on SLB. Piper Sandler decreased their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Susquehanna decreased their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday. BMO Capital Markets decreased their price target on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Bank of America decreased their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Finally, TD Cowen cut their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Stock Down 2.1 %

SLB stock opened at $41.25 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $43.00 and a two-hundred day moving average price of $45.75. The company has a market cap of $58.96 billion, a price-to-earnings ratio of 13.70, a P/E/G ratio of 1.48 and a beta of 1.51. Schlumberger has a twelve month low of $38.66 and a twelve month high of $57.75.

Hedge Funds Weigh In On Schlumberger

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after acquiring an additional 1,868,688 shares during the period. Capital World Investors increased its stake in shares of Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Schlumberger by 14.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by insiders.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.67%. Schlumberger’s payout ratio is currently 36.54%.

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.