Q2 2024 EPS Estimates for Schlumberger Limited Lowered by Analyst (NYSE:SLB)

Schlumberger Limited (NYSE:SLB - Free Report) - Analysts at Griffin Securities dropped their Q2 2024 earnings estimates for Schlumberger in a report issued on Sunday, April 21st. Griffin Securities analyst K. Simpson now expects that the oil and gas company will earn $0.83 per share for the quarter, down from their prior forecast of $0.85. The consensus estimate for Schlumberger's current full-year earnings is $3.51 per share. Griffin Securities also issued estimates for Schlumberger's Q3 2024 earnings at $0.91 EPS and FY2024 earnings at $3.50 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 (EPS) for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 EPS.

Several other equities research analysts also recently weighed in on SLB. Susquehanna reissued a "positive" rating and issued a $77.00 target price on shares of Schlumberger in a research note on Monday. Barclays cut their price objective on Schlumberger from $74.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 4th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Schlumberger in a research report on Monday, April 1st. Bank of America cut their price objective on Schlumberger from $63.00 to $62.00 and set a "buy" rating on the stock in a research report on Monday. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $65.00 price objective on shares of Schlumberger in a research report on Monday. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.67.

Schlumberger Trading Up 0.1 %

NYSE SLB traded up $0.04 during trading hours on Tuesday, hitting $49.55. 11,135,591 shares of the company were exchanged, compared to its average volume of 11,276,809. The stock has a market cap of $70.73 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. Schlumberger has a 52 week low of $42.73 and a 52 week high of $62.12. The stock has a 50-day moving average price of $51.64 and a 200 day moving average price of $52.32. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.22%. This is a boost from Schlumberger's previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger's dividend payout ratio (DPR) is presently 36.54%.

Insider Transactions at Schlumberger

In related news, CAO Howard Guild sold 22,853 shares of the firm's stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $51.66, for a total transaction of $1,180,585.98. Following the sale, the chief accounting officer now directly owns 22,181 shares of the company's stock, valued at $1,145,870.46. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Howard Guild sold 22,853 shares of the stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $51.66, for a total value of $1,180,585.98. Following the transaction, the chief accounting officer now owns 22,181 shares in the company, valued at approximately $1,145,870.46. The disclosure for this sale can be found here. Insiders sold a total of 133,621 shares of company stock worth $6,691,623 over the last three months. 0.26% of the stock is currently owned by insiders.

Institutional Trading of Schlumberger

Several institutional investors have recently modified their holdings of SLB. Ritholtz Wealth Management lifted its stake in shares of Schlumberger by 46.5% in the third quarter. Ritholtz Wealth Management now owns 11,978 shares of the oil and gas company's stock worth $698,000 after buying an additional 3,802 shares in the last quarter. Global Retirement Partners LLC lifted its stake in shares of Schlumberger by 14.1% in the third quarter. Global Retirement Partners LLC now owns 3,563 shares of the oil and gas company's stock worth $199,000 after buying an additional 440 shares in the last quarter. Montecito Bank & Trust purchased a new position in shares of Schlumberger in the third quarter worth about $245,000. DAVENPORT & Co LLC lifted its stake in shares of Schlumberger by 0.9% in the third quarter. DAVENPORT & Co LLC now owns 54,995 shares of the oil and gas company's stock worth $3,206,000 after buying an additional 506 shares in the last quarter. Finally, GHP Investment Advisors Inc. lifted its stake in shares of Schlumberger by 68.8% in the third quarter. GHP Investment Advisors Inc. now owns 1,722 shares of the oil and gas company's stock worth $102,000 after buying an additional 702 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

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.