Schlumberger Limited to Post Q1 2024 Earnings of $0.75 Per Share, Capital One Financial Forecasts (NYSE:SLB)

Schlumberger Limited (NYSE:SLB - Free Report) - Equities researchers at Capital One Financial dropped their Q1 2024 EPS estimates for shares of Schlumberger in a note issued to investors on Thursday, April 18th. Capital One Financial analyst D. Becker now expects that the oil and gas company will post earnings of $0.75 per share for the quarter, down from their previous forecast of $0.76. The consensus estimate for Schlumberger's current full-year earnings is $3.52 per share. Capital One Financial also issued estimates for Schlumberger's Q2 2024 earnings at $0.83 EPS, Q3 2024 earnings at $0.90 EPS, Q4 2024 earnings at $1.00 EPS, FY2024 earnings at $3.47 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $1.09 EPS, Q4 2025 earnings at $1.19 EPS and FY2025 earnings at $4.22 EPS.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The company's revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 EPS.

SLB has been the subject of several other research reports. Barclays dropped their target price on shares of Schlumberger from $74.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, April 4th. Royal Bank of Canada boosted their target price on shares of Schlumberger from $66.00 to $69.00 and gave the company an "outperform" rating in a research note on Wednesday, April 3rd. Susquehanna reaffirmed a "positive" rating and issued a $77.00 price target on shares of Schlumberger in a research note on Monday, April 8th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Schlumberger in a research note on Monday, April 1st. Finally, Wells Fargo & Company upped their price target on shares of Schlumberger from $69.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $70.31.

Schlumberger Stock Down 2.2 %

Shares of SLB traded down $1.10 during midday trading on Friday, hitting $49.84. The company had a trading volume of 16,839,639 shares, compared to its average volume of 11,283,835. The company's 50 day moving average price is $51.62 and its 200 day moving average price is $52.43. The stock has a market cap of $71.14 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 0.97 and a beta of 1.60. Schlumberger has a 52 week low of $42.73 and a 52 week high of $62.12. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.21%. This is a positive change from Schlumberger's previous quarterly dividend of $0.25. Schlumberger's payout ratio is currently 37.67%.

Insider Activity

In other news, CFO Stephane Biguet sold 6,250 shares of the business's stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Stephane Biguet sold 6,250 shares of the business's stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 38,570 shares of the business's stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the sale, the executive vice president now owns 386,841 shares in the company, valued at approximately $19,504,523.22. The disclosure for this sale can be found here. Insiders have sold 172,191 shares of company stock worth $8,636,322 over the last 90 days. 0.26% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Acadian Asset Management LLC bought a new stake in Schlumberger in the first quarter worth approximately $25,000. Cetera Investment Advisers raised its stake in Schlumberger by 35.3% during the 1st quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company's stock valued at $1,623,000 after purchasing an additional 10,240 shares during the last quarter. Dakota Wealth Management acquired a new position in Schlumberger during the 1st quarter valued at $232,000. Sequoia Financial Advisors LLC acquired a new position in Schlumberger during the 1st quarter valued at $419,000. Finally, Baird Financial Group Inc. raised its stake in Schlumberger by 2.9% during the 1st quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company's stock valued at $4,627,000 after purchasing an additional 3,209 shares during the last quarter. 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.