Brokers Issue Forecasts for Schlumberger FY2024 Earnings

Schlumberger Limited (NYSE:SLB) – Equities research analysts at Capital One Financial dropped their FY2024 earnings per share estimates for shares of Schlumberger in a research note issued on Monday, October 21st. Capital One Financial analyst D. Becker now anticipates that the oil and gas company will post earnings of $3.39 per share for the year, down from their prior forecast of $3.49. The consensus estimate for Schlumberger’s current full-year earnings is $3.41 per share. Capital One Financial also issued estimates for Schlumberger’s Q4 2024 earnings at $0.91 EPS, Q1 2025 earnings at $0.78 EPS, Q2 2025 earnings at $0.91 EPS, Q3 2025 earnings at $0.95 EPS and Q4 2025 earnings at $1.01 EPS.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. Schlumberger’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

Several other research analysts also recently commented on the company. Dbs Bank started coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Citigroup cut their target price on Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Morgan Stanley cut their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Trading Down 2.1 %

Shares of SLB stock opened at $41.25 on Wednesday. The firm has a market capitalization of $58.96 billion, a P/E ratio of 13.70, a P/E/G ratio of 1.48 and a beta of 1.51. Schlumberger has a twelve month low of $38.66 and a twelve month high of $57.75. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $43.00 and its 200 day simple moving average is $45.75.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Institutional Trading of Schlumberger

Large investors have recently bought and sold shares of the company. Crescent Grove Advisors LLC bought a new position in shares of Schlumberger in the second quarter worth $257,000. National Bank of Canada FI lifted its stake in Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after purchasing an additional 51,637 shares during the last quarter. Mission Wealth Management LP purchased a new position in shares of Schlumberger in the first quarter worth about $245,000. Public Sector Pension Investment Board increased its holdings in Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

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.