Q1 2024 EPS Estimates for Schlumberger Limited Lowered by Capital One Financial (NYSE:SLB)

Schlumberger Limited (NYSE:SLBFree Report) – Equities research analysts at Capital One Financial dropped their Q1 2024 earnings per share estimates for Schlumberger in a research note issued on Thursday, April 18th. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will post earnings of $0.75 per share for the quarter, down from their prior forecast of $0.76. The consensus estimate for Schlumberger’s current full-year earnings is $3.51 per share. Capital One Financial also issued estimates for Schlumberger’s Q2 2024 earnings at $0.83 EPS, Q3 2024 earnings at $0.90 EPS, Q4 2024 earnings at $1.00 EPS, FY2024 earnings at $3.47 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $1.09 EPS, Q4 2025 earnings at $1.19 EPS and FY2025 earnings at $4.22 EPS.

Schlumberger (NYSE:SLBGet Free Report) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was up 12.6% compared to the same quarter last year.

Other analysts have also issued reports about the company. HSBC reissued a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Wells Fargo & Company upped their target price on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Susquehanna reaffirmed a “positive” rating and set a $77.00 target price on shares of Schlumberger in a report on Monday, April 8th. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.31.

View Our Latest Stock Report on Schlumberger

Schlumberger Stock Down 2.1 %

Shares of Schlumberger stock opened at $49.85 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The firm has a market cap of $71.16 billion, a P/E ratio of 17.07, a P/E/G ratio of 0.97 and a beta of 1.60. Schlumberger has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The business has a 50-day moving average price of $51.62 and a 200 day moving average price of $52.39.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 37.67%.

Insider Activity

In other news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 172,191 shares of company stock worth $8,636,322. Insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Hedge funds have recently modified their holdings of the business. Oak Harvest Investment Services increased its stake in shares of Schlumberger by 89.8% in the first quarter. Oak Harvest Investment Services now owns 226,532 shares of the oil and gas company’s stock worth $12,416,000 after acquiring an additional 107,206 shares during the last quarter. First Trust Direct Indexing L.P. increased its stake in shares of Schlumberger by 1.4% in the first quarter. First Trust Direct Indexing L.P. now owns 45,401 shares of the oil and gas company’s stock worth $2,488,000 after acquiring an additional 641 shares during the last quarter. Kovack Advisors Inc. increased its stake in shares of Schlumberger by 6.9% in the first quarter. Kovack Advisors Inc. now owns 43,720 shares of the oil and gas company’s stock worth $2,396,000 after acquiring an additional 2,827 shares during the last quarter. Massachusetts Wealth Management increased its stake in shares of Schlumberger by 1.3% in the first quarter. Massachusetts Wealth Management now owns 57,517 shares of the oil and gas company’s stock worth $3,153,000 after acquiring an additional 750 shares during the last quarter. Finally, DMC Group LLC increased its stake in shares of Schlumberger by 4.1% in the first quarter. DMC Group LLC now owns 7,588 shares of the oil and gas company’s stock worth $416,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Company Profile

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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.

Further Reading

Earnings History and Estimates for Schlumberger (NYSE:SLB)

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