Q4 2024 EPS Estimates for Schlumberger Limited Cut by Analyst (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) – Stock analysts at Griffin Securities cut their Q4 2024 EPS estimates for shares of Schlumberger in a research note issued to investors on Sunday, April 21st. Griffin Securities analyst K. Simpson now anticipates that the oil and gas company will earn $1.01 per share for the quarter, down from their prior estimate of $1.06. The consensus estimate for Schlumberger’s current full-year earnings is $3.50 per share.

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 the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same period last year, the company posted $0.63 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis.

SLB has been the topic of a number of other reports. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Barclays lowered their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research report on Monday. TD Cowen decreased their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday. Finally, BMO Capital Markets dropped their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $69.67.

Schlumberger Stock Performance

NYSE:SLB opened at $49.11 on Wednesday. The firm has a market capitalization of $70.10 billion, a P/E ratio of 16.32, a P/E/G ratio of 0.95 and a beta of 1.60. Schlumberger has a twelve month low of $42.73 and a twelve month high of $62.12. The company has a fifty day moving average of $51.71 and a 200-day moving average of $52.25. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.24%. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

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. In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger 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 sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated 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 directly owns 249,182 shares in the company, valued at $13,151,825.96. 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. 0.26% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Highland Capital Management LLC raised its holdings in Schlumberger by 2,494.0% in the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after buying an additional 97,516 shares during the period. Guinness Asset Management LTD lifted its holdings in shares of Schlumberger by 0.3% in 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 acquiring an additional 965 shares during the last quarter. Nordea Investment Management AB boosted its position in shares of 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 purchasing an additional 380,185 shares during the period. Allworth Financial LP increased its holdings in Schlumberger by 3.8% in the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after purchasing an additional 206 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its position in Schlumberger by 6.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after purchasing an additional 35,763 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.