Analysts Offer Predictions for Schlumberger Limited’s Q1 2024 Earnings (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) – Investment analysts at Capital One Financial dropped their Q1 2024 earnings estimates for shares of Schlumberger in a research note issued to investors on Thursday, April 18th. Capital One Financial analyst D. Becker now anticipates that the oil and gas company will post earnings per share of $0.75 for the quarter, down from their previous forecast of $0.76. The consensus estimate for Schlumberger’s current full-year earnings is $3.52 per share. Capital One Financial also issued estimates for Schlumberger’s Q2 2024 earnings at $0.83 EPS, Q3 2024 earnings at $0.90 EPS, Q4 2024 earnings at $1.00 EPS, FY2024 earnings at $3.47 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $1.09 EPS, Q4 2025 earnings at $1.19 EPS and FY2025 earnings at $4.22 EPS.

A number of other brokerages also recently issued reports on SLB. Barclays lowered their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. HSBC reissued a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Royal Bank of Canada increased their target price on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company boosted their price target on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.31.

Schlumberger Price Performance

NYSE:SLB opened at $49.84 on Friday. The firm’s fifty day moving average is $51.62 and its two-hundred day moving average is $52.43. The firm has a market cap of $71.14 billion, a price-to-earnings ratio of 17.07, a PEG ratio of 0.97 and a beta of 1.60. Schlumberger has a one year low of $42.73 and a one year high of $62.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Schlumberger’s revenue for the quarter was up 12.6% on a year-over-year basis.

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 given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.21%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is currently 37.67%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 38,570 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the transaction, the executive vice president now owns 386,841 shares of the company’s stock, valued at $19,504,523.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Schlumberger news, CAO Howard Guild sold 22,853 shares of the business’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total transaction of $1,180,585.98. Following the completion of the sale, the chief accounting officer now directly owns 22,181 shares in the company, valued at $1,145,870.46. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the completion of the transaction, the executive vice president now directly owns 386,841 shares in the company, valued at approximately $19,504,523.22. The disclosure for this sale can be found here. In the last three months, insiders sold 172,191 shares of company stock worth $8,636,322. Insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Several hedge funds and other institutional investors have recently bought and sold shares of SLB. BluePath Capital Management LLC purchased a new position in Schlumberger in the 3rd quarter valued at about $25,000. Acadian Asset Management LLC purchased a new position in Schlumberger in the first quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Schlumberger during the 4th quarter valued at approximately $26,000. Register Financial Advisors LLC purchased a new stake in Schlumberger during the 1st quarter worth approximately $27,000. Finally, Coppell Advisory Solutions LLC acquired a new position in shares of Schlumberger in the 2nd quarter valued at approximately $27,000. 81.99% of the stock is owned by institutional investors and hedge funds.

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.