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

Schlumberger Limited (NYSE:SLB) – Stock analysts at Atb Cap Markets dropped their Q3 2024 EPS estimates for shares of Schlumberger in a research note issued on Sunday, July 21st. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will post earnings per share of $0.88 for the quarter, down from their prior estimate of $0.93. The consensus estimate for Schlumberger’s current full-year earnings is $3.48 per share. Atb Cap Markets also issued estimates for Schlumberger’s Q4 2024 earnings at $1.01 EPS, FY2024 earnings at $3.48 EPS, Q1 2025 earnings at $0.85 EPS, Q2 2025 earnings at $0.99 EPS, Q3 2025 earnings at $1.10 EPS, Q4 2025 earnings at $1.17 EPS, FY2025 earnings at $4.11 EPS, Q1 2026 earnings at $1.02 EPS, Q2 2026 earnings at $1.11 EPS and FY2026 earnings at $4.49 EPS.

SLB has been the topic of a number of other reports. HSBC restated a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $68.00 to $53.00 in a report on Monday, April 29th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. TD Cowen raised their target price on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday. Finally, StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.56.

Schlumberger Trading Down 2.1 %

Shares of SLB opened at $48.03 on Tuesday. Schlumberger has a 52-week low of $42.61 and a 52-week high of $62.12. The stock has a market cap of $68.65 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 1.06 and a beta of 1.55. The firm’s fifty day moving average is $46.32 and its two-hundred day moving average is $48.99. 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 (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $9.08 billion. During the same quarter last year, the business posted $0.72 earnings per share. The business’s quarterly revenue was up 12.8% compared to the same quarter last year.

Institutional Investors Weigh In On Schlumberger

Large investors have recently modified their holdings of the company. CVA Family Office LLC purchased a new stake in Schlumberger in the fourth quarter valued at $126,000. Pacer Advisors Inc. grew its stake in Schlumberger by 30.0% during the 4th quarter. Pacer Advisors Inc. now owns 118,132 shares of the oil and gas company’s stock worth $6,148,000 after buying an additional 27,232 shares during the last quarter. Douglas Lane & Associates LLC increased its position in Schlumberger by 3.7% during the fourth quarter. Douglas Lane & Associates LLC now owns 670,774 shares of the oil and gas company’s stock worth $34,907,000 after buying an additional 23,712 shares during the period. Meyer Handelman Co. lifted its stake in Schlumberger by 0.3% in the fourth quarter. Meyer Handelman Co. now owns 119,852 shares of the oil and gas company’s stock valued at $6,237,000 after buying an additional 400 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Schlumberger by 85.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 313,518 shares of the oil and gas company’s stock valued at $16,315,000 after acquiring an additional 144,327 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Schlumberger 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 transaction of $216,281.40. Following the sale, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was 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 of the company’s stock, valued at $10,141,615.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. Insiders have sold 286,874 shares of company stock worth $14,148,517 over the last three months. Company insiders own 0.26% of the company’s stock.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.29%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

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.