Schlumberger Limited (NYSE:SLB) to Post Q4 2024 Earnings of $0.92 Per Share, Atb Cap Markets Forecasts

Schlumberger Limited (NYSE:SLB) – Research analysts at Atb Cap Markets dropped their Q4 2024 EPS estimates for shares of Schlumberger in a report issued on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now expects that the oil and gas company will post earnings per share of $0.92 for the quarter, down from their prior estimate of $1.01. The consensus estimate for Schlumberger’s current full-year earnings is $3.49 per share.

Several other analysts have also recently commented on SLB. Citigroup lowered their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Morgan Stanley lowered their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Piper Sandler lowered their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday. Finally, UBS Group lowered their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Two analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average price target of $65.29.

Schlumberger Trading Up 1.3 %

Shares of SLB opened at $45.46 on Friday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The firm has a 50 day simple moving average of $43.34 and a 200-day simple moving average of $46.80. Schlumberger has a 1-year low of $38.66 and a 1-year high of $61.20. The stock has a market cap of $64.55 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.90 and a beta of 1.51.

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

Hedge Funds Weigh In On Schlumberger

Several large investors have recently modified their holdings of SLB. Register Financial Advisors LLC acquired a new stake in Schlumberger during the first quarter worth about $27,000. Manchester Capital Management LLC raised its stake in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the period. Bruce G. Allen Investments LLC raised its stake in Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 392 shares during the period. Transcendent Capital Group LLC acquired a new stake in Schlumberger during the fourth quarter worth about $32,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Schlumberger during the second quarter worth about $30,000. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock worth $9,048,624 in the last quarter. 0.26% of the stock is owned by corporate insiders.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.42%. Schlumberger’s dividend payout ratio is currently 36.54%.

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.