Capital One Financial Forecasts Schlumberger FY2024 Earnings

Schlumberger Limited (NYSE:SLB) – Stock analysts at Capital One Financial dropped their FY2024 EPS estimates for shares of Schlumberger in a note issued to investors on Tuesday, December 17th. Capital One Financial analyst D. Becker now expects that the oil and gas company will post earnings of $3.37 per share for the year, down from their previous estimate of $3.39. The consensus estimate for Schlumberger’s current full-year earnings is $3.39 per share. Capital One Financial also issued estimates for Schlumberger’s Q4 2024 earnings at $0.89 EPS.

Several other analysts have also recently commented on SLB. Citigroup lowered their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research report on Thursday. UBS Group cut their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Morgan Stanley cut their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday, September 16th. Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Monday, October 21st. Finally, Evercore ISI cut their price objective on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Four research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $58.85.

Schlumberger Price Performance

Shares of SLB stock opened at $36.91 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.69. The firm has a fifty day moving average of $42.22 and a two-hundred day moving average of $43.80. The firm has a market cap of $52.12 billion, a P/E ratio of 11.87, a P/E/G ratio of 1.42 and a beta of 1.51.

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

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Institutional Trading of Schlumberger

Hedge funds and other institutional investors have recently made changes to their positions in the business. ORG Partners LLC lifted its position in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger during the second quarter worth $30,000. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger during the third quarter valued at $29,000. Ashton Thomas Securities LLC bought a new position in Schlumberger in the third quarter valued at about $37,000. Finally, Cultivar Capital Inc. acquired a new stake in Schlumberger during the 2nd quarter worth $45,000. 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.