Q2 2024 EPS Estimates for Schlumberger Limited Decreased by Analyst (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) – Stock analysts at Griffin Securities dropped their Q2 2024 earnings estimates for shares of Schlumberger in a research note issued on Sunday, April 21st. Griffin Securities analyst K. Simpson now anticipates that the oil and gas company will earn $0.83 per share for the quarter, down from their prior forecast of $0.85. The consensus estimate for Schlumberger’s current full-year earnings is $3.50 per share. Griffin Securities also issued estimates for Schlumberger’s Q3 2024 earnings at $0.91 EPS and FY2024 earnings at $3.50 EPS.

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

Other analysts have also issued reports about the stock. Wells Fargo & Company increased their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 target price on shares of Schlumberger in a research report on Monday. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a research report on Monday. Royal Bank of Canada raised their target price on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Finally, Susquehanna reaffirmed a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research report on Monday. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.67.

Schlumberger Stock Performance

Schlumberger stock opened at $49.11 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger has a 1-year low of $42.73 and a 1-year high of $62.12. The firm has a market capitalization of $70.10 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The company’s 50-day moving average is $51.71 and its 200 day moving average is $52.25.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Highland Capital Management LLC increased its stake in shares of Schlumberger by 2,494.0% during the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock worth $5,278,000 after purchasing an additional 97,516 shares in the last quarter. Guinness Asset Management LTD increased its stake in Schlumberger by 0.3% during the 3rd quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock worth $19,468,000 after buying an additional 965 shares during the period. Nordea Investment Management AB increased its stake in Schlumberger by 36.4% during the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after buying an additional 380,185 shares during the period. Allworth Financial LP increased its stake in Schlumberger by 3.8% during the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after buying an additional 206 shares during the period. Finally, Asset Management One Co. Ltd. increased its stake in Schlumberger by 6.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after buying an additional 35,763 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other news, insider Katharina Beumelburg sold 8,000 shares of Schlumberger stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.62, for a total transaction of $420,960.00. Following the completion of the sale, the insider now directly owns 15,581 shares in the company, valued at $819,872.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Katharina Beumelburg sold 8,000 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.62, for a total transaction of $420,960.00. Following the transaction, the insider now directly owns 15,581 shares of the company’s stock, valued at approximately $819,872.22. The disclosure for this sale can be found here. Insiders sold a total of 90,545 shares of company stock worth $4,458,430 over the last three months. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.24%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is 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.