Q3 2024 EPS Estimates for Schlumberger Limited Reduced by Griffin Securities (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) – Stock analysts at Griffin Securities decreased their Q3 2024 EPS estimates for shares of Schlumberger in a note issued to investors on Wednesday, July 24th. Griffin Securities analyst K. Simpson now expects that the oil and gas company will earn $0.89 per share for the quarter, down from their prior forecast of $0.91. The consensus estimate for Schlumberger’s current full-year earnings is $3.50 per share. Griffin Securities also issued estimates for Schlumberger’s Q4 2024 earnings at $1.00 EPS, FY2024 earnings at $3.49 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $0.96 EPS, Q3 2025 earnings at $1.01 EPS, Q4 2025 earnings at $1.08 EPS and FY2025 earnings at $3.90 EPS.

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

Other research analysts have also issued reports about the stock. Evercore ISI boosted their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research note on Monday. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Monday. Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $68.00 to $53.00 in a report on Monday, April 29th. Citigroup dropped their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Finally, BMO Capital Markets decreased their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.56.

Schlumberger Price Performance

Shares of SLB opened at $48.23 on Friday. The company has a market cap of $68.94 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 1.02 and a beta of 1.55. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $46.31 and its 200 day simple moving average is $48.99. Schlumberger has a 1-year low of $42.61 and a 1-year high of $62.12.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SLB. Catalyst Financial Partners LLC increased its position in Schlumberger by 9.1% during the 2nd quarter. Catalyst Financial Partners LLC now owns 4,694 shares of the oil and gas company’s stock worth $221,000 after purchasing an additional 392 shares in the last quarter. New Millennium Group LLC grew its stake in shares of Schlumberger by 55.9% during the second quarter. New Millennium Group LLC now owns 9,778 shares of the oil and gas company’s stock worth $461,000 after buying an additional 3,508 shares during the last quarter. apricus wealth LLC increased its holdings in shares of Schlumberger by 3.6% during the second quarter. apricus wealth LLC now owns 50,160 shares of the oil and gas company’s stock worth $2,367,000 after buying an additional 1,755 shares in the last quarter. Hills Bank & Trust Co lifted its stake in shares of Schlumberger by 3.1% in the 2nd quarter. Hills Bank & Trust Co now owns 34,310 shares of the oil and gas company’s stock valued at $1,619,000 after acquiring an additional 1,036 shares during the last quarter. Finally, Cypress Capital Group boosted its holdings in shares of Schlumberger by 18.0% during the 2nd quarter. Cypress Capital Group now owns 28,277 shares of the oil and gas company’s stock valued at $1,334,000 after acquiring an additional 4,305 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The disclosure for this sale can be found here. Insiders have sold 286,874 shares of company stock worth $14,148,517 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.28%. Schlumberger’s dividend payout ratio is 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.