Brokers Offer Predictions for Schlumberger FY2024 Earnings

Schlumberger Limited (NYSE:SLB) – Stock analysts at Capital One Financial dropped their FY2024 EPS estimates for Schlumberger in a research note issued on Tuesday, December 17th. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will post earnings of $3.37 per share for the year, down from their prior 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.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm 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 company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS.

A number of other equities research analysts have also commented on the stock. Susquehanna reduced their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Dbs Bank initiated coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target on the stock. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Stifel Nicolaus reaffirmed 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. Three research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.74.

Schlumberger Stock Down 2.4 %

Shares of NYSE:SLB opened at $38.93 on Wednesday. The firm has a market cap of $54.98 billion, a P/E ratio of 12.52, a P/E/G ratio of 1.42 and a beta of 1.51. Schlumberger has a 12-month low of $38.66 and a 12-month high of $55.69. The business has a fifty day simple moving average of $42.51 and a 200 day simple moving average of $43.89. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.83%. Schlumberger’s dividend payout ratio is presently 35.37%.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the 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 completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Schlumberger

Institutional investors have recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky increased its holdings in Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after buying an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after acquiring an additional 16,350 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Schlumberger by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after acquiring an additional 65,318 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 14,376 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after purchasing an additional 11,813 shares during the period. 81.99% of the stock is owned by 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.