Griffin Securities Analysts Raise Earnings Estimates for SLB

Key Points

• Analysts at Griffin Securities have raised their FY2025 earnings per share estimate for SLB to $2.90, slightly up from their previous forecast of $2.85, indicating a generally optimistic outlook for the oil and gas company.
• SLB recently reported quarterly earnings of $0.69 per share, beating analysts' expectations of $0.67, but experienced a 2.5% decline in revenue compared to the same quarter last year.
• The company announced a $0.285 quarterly dividend, representing a yield of 3.4%, scheduled for payment on January 8th, 2024.

SLB Limited (NYSE:SLB - Free Report) - Griffin Securities increased their FY2025 earnings per share estimates for SLB in a research note issued to investors on Sunday, October 19th. Griffin Securities analyst K. Simpson now anticipates that the oil and gas company will post earnings per share of $2.90 for the year, up from their prior forecast of $2.85. The consensus estimate for SLB's current full-year earnings is $3.38 per share.

A number of other equities research analysts also recently weighed in on the company. Zacks Research raised SLB from a "strong sell" rating to a "hold" rating in a research report on Monday, September 15th. JPMorgan Chase & Co. dropped their price objective on SLB from $44.00 to $43.00 and set an "overweight" rating on the stock in a research report on Monday. Jefferies Financial Group dropped their price objective on SLB from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, June 26th. Melius Research initiated coverage on SLB in a research note on Wednesday, August 20th. They issued a "buy" rating and a $82.00 price target for the company. Finally, Susquehanna decreased their price target on SLB from $44.00 to $42.00 and set a "positive" rating for the company in a research note on Monday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $51.69.

SLB Price Performance

Shares of SLB stock opened at $33.51 on Wednesday. SLB has a 1-year low of $31.11 and a 1-year high of $44.97. The stock's 50-day moving average is $34.52 and its 200 day moving average is $34.48. The company has a market cap of $50.05 billion, a P/E ratio of 12.94, a PEG ratio of 9.35 and a beta of 0.97. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.39 and a quick ratio of 1.01.

SLB (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, October 17th. The oil and gas company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.67 by $0.02. SLB had a return on equity of 18.97% and a net margin of 10.34%.The company had revenue of $8.93 billion for the quarter, compared to the consensus estimate of $8.99 billion. During the same quarter last year, the company earned $0.89 earnings per share. The firm's revenue for the quarter was down 2.5% compared to the same quarter last year.

SLB Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Stockholders of record on Wednesday, December 3rd will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Wednesday, December 3rd. SLB's dividend payout ratio (DPR) is presently 44.02%.

Insider Activity

In other news, insider Dianne B. Ralston sold 39,727 shares of the firm's stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This trade represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.22% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Asset Management One Co. Ltd. raised its stake in shares of SLB by 9.0% in the third quarter. Asset Management One Co. Ltd. now owns 634,815 shares of the oil and gas company's stock worth $21,819,000 after purchasing an additional 52,500 shares during the last quarter. Alpha Omega Wealth Management LLC purchased a new position in shares of SLB in the third quarter worth about $3,960,000. Fifth Third Wealth Advisors LLC raised its stake in shares of SLB by 52.8% in the third quarter. Fifth Third Wealth Advisors LLC now owns 52,534 shares of the oil and gas company's stock worth $1,806,000 after purchasing an additional 18,156 shares during the last quarter. Davis Capital Management purchased a new position in shares of SLB in the third quarter worth about $720,000. Finally, Fulton Bank N.A. raised its stake in shares of SLB by 15.5% in the third quarter. Fulton Bank N.A. now owns 13,427 shares of the oil and gas company's stock worth $461,000 after purchasing an additional 1,803 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

About SLB

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.

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