Capital One Financial Estimates Schlumberger FY2024 Earnings

Schlumberger Limited (NYSE:SLB) – Stock analysts at Capital One Financial reduced their FY2024 earnings per share estimates for Schlumberger in a report issued on Tuesday, December 17th. Capital One Financial analyst D. Becker now expects that the oil and gas company will post earnings of $3.37 per share for the year, down from their prior estimate of $3.39. The consensus estimate for Schlumberger’s current full-year earnings is $3.39 per share. Capital One Financial also issued estimates for Schlumberger’s Q4 2024 earnings at $0.89 EPS.

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

A number of other equities research analysts have also issued reports on SLB. Citigroup dropped their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday. TD Cowen cut their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Wells Fargo & Company lowered their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Susquehanna lowered their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $58.85.

Schlumberger Price Performance

SLB stock opened at $36.91 on Wednesday. The stock has a 50-day moving average price of $42.22 and a two-hundred day moving average price of $43.80. Schlumberger has a 1 year low of $36.52 and a 1 year high of $55.69. The stock has a market cap of $52.12 billion, a PE ratio of 11.87, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.98%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now 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. 0.26% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Schlumberger

Large investors have recently bought and sold shares of the company. Financial Advocates Investment Management boosted its holdings in 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 acquiring an additional 218 shares during the last quarter. Chilton Capital Management LLC increased 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 valued at $1,236,000 after acquiring an additional 219 shares in the last quarter. Grove Bank & Trust lifted its position in shares of Schlumberger by 17.4% during the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 224 shares during the period. Addison Advisors LLC boosted its stake in Schlumberger by 6.5% during the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock worth $179,000 after acquiring an additional 233 shares in the last quarter. Finally, Clearstead Trust LLC grew its holdings in Schlumberger by 0.8% in the second quarter. Clearstead Trust LLC now owns 31,529 shares of the oil and gas company’s stock worth $1,488,000 after purchasing an additional 237 shares during the period. 81.99% of the stock is currently owned by institutional investors.

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.