Q4 2024 Earnings Forecast for Schlumberger Limited Issued By Griffin Securities (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) – Griffin Securities decreased their Q4 2024 earnings estimates for shares of Schlumberger in a research report issued to clients and investors on Sunday, April 21st. Griffin Securities analyst K. Simpson now expects that the oil and gas company will earn $1.01 per share for the quarter, down from their prior forecast of $1.06. The consensus estimate for Schlumberger’s current full-year earnings is $3.50 per share.

A number of other equities analysts also recently commented on the stock. Wells Fargo & Company lifted their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. TD Cowen lowered their price objective on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank of Canada raised their target price on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a report on Monday. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $69.67.

Schlumberger Price Performance

Shares of SLB opened at $49.55 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The firm has a market cap of $70.73 billion, a price-to-earnings ratio of 16.46, a PEG ratio of 0.95 and a beta of 1.60. Schlumberger has a 52 week low of $42.73 and a 52 week high of $62.12. The stock has a 50 day moving average of $51.68 and a 200-day moving average of $52.28.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.63 earnings per share.

Schlumberger Increases Dividend

The firm 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 dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.22%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Transactions at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders have sold 110,768 shares of company stock valued at $5,511,037 in the last quarter. Insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Hedge funds have recently made changes to their positions in the company. Highland Capital Management LLC boosted its position in shares of Schlumberger by 2,494.0% in the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock worth $5,278,000 after buying an additional 97,516 shares during the period. Guinness Asset Management LTD grew its stake in Schlumberger by 0.3% during the 3rd quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock valued at $19,468,000 after acquiring an additional 965 shares in the last quarter. Nordea Investment Management AB grew its stake in Schlumberger by 36.4% during the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after acquiring an additional 380,185 shares in the last quarter. Allworth Financial LP increased its holdings in shares of Schlumberger by 3.8% in the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after purchasing an additional 206 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in shares of Schlumberger by 6.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after purchasing an additional 35,763 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.