Q3 2024 EPS Estimates for Schlumberger Limited (NYSE:SLB) Lowered by Atb Cap Markets

Schlumberger Limited (NYSE:SLB) – Analysts at Atb Cap Markets decreased their Q3 2024 earnings per share estimates for Schlumberger in a report issued on Sunday, July 21st. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will earn $0.88 per share for the quarter, down from their previous forecast 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.

Other research analysts have also issued reports about the company. BMO Capital Markets reduced their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $68.00 to $53.00 in a report on Monday, April 29th. Citigroup lowered their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Monday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $67.56.

Schlumberger Price Performance

Shares of SLB stock opened at $48.03 on Tuesday. The firm’s 50 day moving average price is $46.32 and its two-hundred day moving average price is $48.99. The stock has a market cap of $68.65 billion, a PE ratio of 15.96, a PEG ratio of 1.06 and a beta of 1.55. Schlumberger has a 52-week low of $42.61 and a 52-week high of $62.12. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Capital World Investors increased its stake in shares of Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the last quarter. Norges Bank acquired a new position in Schlumberger during the fourth quarter worth approximately $1,000,292,000. Price T Rowe Associates Inc. MD increased its position in Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares during the last quarter. Winslow Capital Management LLC raised its stake in Schlumberger by 123,063.5% in the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after buying an additional 4,344,141 shares during the period. Finally, Boston Partners lifted its position in shares of Schlumberger by 35.8% in the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after buying an additional 3,069,395 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Insiders have sold 286,874 shares of company stock valued at $14,148,517 in the last 90 days. 0.26% of the stock is currently owned by company insiders.

Schlumberger Dividend Announcement

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 issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.