Brokers Offer Predictions for Schlumberger Limited’s Q3 2024 Earnings (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) – Stock analysts at Atb Cap Markets reduced their Q3 2024 EPS estimates for shares of Schlumberger in a research report issued on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will post earnings of $0.87 per share for the quarter, down from their previous estimate 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.

Other analysts have also recently issued research reports about the stock. Morgan Stanley lowered their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. UBS Group reduced their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Thursday. TD Cowen upped their target price on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Finally, Wells Fargo & Company reduced their target price on shares of 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 investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.29.

Schlumberger Price Performance

SLB opened at $45.46 on Thursday. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger has a 12 month low of $38.66 and a 12 month high of $61.20. The company has a fifty day simple moving average of $43.34 and a 200 day simple moving average of $46.80. The stock has a market cap of $64.55 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.90 and a beta of 1.51.

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

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.42%. Schlumberger’s payout ratio is 36.54%.

Insider Activity

In other news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SLB. KBC Group NV raised its holdings in Schlumberger by 5.4% in the 4th quarter. KBC Group NV now owns 110,553 shares of the oil and gas company’s stock valued at $5,753,000 after acquiring an additional 5,701 shares during the period. Capital International Investors raised its holdings in Schlumberger by 0.6% in the 4th quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after acquiring an additional 89,483 shares during the period. Tower Research Capital LLC TRC raised its holdings in Schlumberger by 52.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 100,451 shares of the oil and gas company’s stock valued at $5,227,000 after acquiring an additional 34,521 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Schlumberger by 76.4% in the 4th quarter. Oppenheimer & Co. Inc. now owns 108,220 shares of the oil and gas company’s stock valued at $5,632,000 after acquiring an additional 46,876 shares during the period. Finally, Cetera Advisor Networks LLC raised its holdings in Schlumberger by 16.6% in the 4th quarter. Cetera Advisor Networks LLC now owns 76,763 shares of the oil and gas company’s stock valued at $3,995,000 after acquiring an additional 10,949 shares during the period. 81.99% of the stock is 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.