Capital One Financial Forecasts Schlumberger FY2024 Earnings

Schlumberger Limited (NYSE:SLB) – Stock analysts at Capital One Financial lowered their FY2024 EPS estimates for shares of Schlumberger in a report issued on Tuesday, December 17th. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will post earnings per share of $3.37 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 company had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share.

Several other equities research analysts have also issued reports on SLB. BMO Capital Markets decreased their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Barclays reduced their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. UBS Group dropped their price target 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. Finally, 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. Three 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $60.15.

Schlumberger Stock Performance

SLB opened at $37.33 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger has a 52-week low of $37.28 and a 52-week high of $55.69. The firm has a market cap of $52.72 billion, a P/E ratio of 12.00, a price-to-earnings-growth ratio of 1.42 and a beta of 1.51. The business’s fifty day moving average is $42.38 and its 200-day moving average is $43.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of SLB. Financial Advocates Investment Management lifted its holdings in shares of Schlumberger by 3.4% in the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after buying an additional 218 shares in the last quarter. Chilton Capital Management LLC lifted its stake in Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after purchasing an additional 219 shares in the last quarter. Grove Bank & Trust boosted its holdings in Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 224 shares during the period. Addison Advisors LLC grew its position in shares of Schlumberger by 6.5% during the 2nd quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after purchasing an additional 233 shares in the last quarter. Finally, Clearstead Trust LLC increased its holdings in shares of Schlumberger by 0.8% in the second quarter. Clearstead Trust LLC now owns 31,529 shares of the oil and gas company’s stock worth $1,488,000 after purchasing an additional 237 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.95%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

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.