Q3 2024 EPS Estimates for Schlumberger Limited (NYSE:SLB) Lowered by Analyst

Schlumberger Limited (NYSE:SLB) – Equities research analysts at Capital One Financial lowered their Q3 2024 earnings per share (EPS) estimates for Schlumberger in a research note issued to investors on Monday, July 22nd. Capital One Financial analyst D. Becker now expects that the oil and gas company will post earnings of $0.89 per share for the quarter, down from their previous forecast of $0.90. The consensus estimate for Schlumberger’s current full-year earnings is $3.49 per share. Capital One Financial also issued estimates for Schlumberger’s Q4 2024 earnings at $1.01 EPS, FY2024 earnings at $3.49 EPS and Q1 2025 earnings at $0.88 EPS.

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

A number of other research firms have also commented on SLB. Bank of America cut their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a report on Monday, July 15th. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Piper Sandler cut their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Stifel Nicolaus restated a “buy” rating and set a $64.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.56.

Schlumberger Trading Up 0.4 %

NYSE:SLB opened at $48.23 on Wednesday. The stock has a market capitalization of $68.94 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 1.05 and a beta of 1.55. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm’s 50 day moving average is $46.31 and its 200 day moving average is $48.99. Schlumberger has a 12 month low of $42.61 and a 12 month high of $62.12.

Institutional Trading of Schlumberger

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors lifted its position in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after buying an additional 37,333,485 shares in the last quarter. Norges Bank bought a new stake in shares of Schlumberger in the 4th quarter valued at approximately $1,000,292,000. Price T Rowe Associates Inc. MD boosted its stake in Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the period. Winslow Capital Management LLC raised its position in Schlumberger by 123,063.5% in the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after purchasing an additional 4,344,141 shares during the period. Finally, Boston Partners grew its stake in shares of Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Insiders have sold a total of 286,874 shares of company stock valued at $14,148,517 in the last 90 days. 0.26% of the stock is currently owned by insiders.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors 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 annualized dividend and a yield of 2.28%. Schlumberger’s payout ratio is 36.54%.

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.