Griffin Securities Cuts Earnings Estimates for Schlumberger

Schlumberger Limited (NYSE:SLB) – Analysts at Griffin Securities lowered their FY2024 earnings per share (EPS) estimates for shares of Schlumberger in a research report issued to clients and investors on Monday, October 21st. Griffin Securities analyst K. Simpson now anticipates that the oil and gas company will post earnings of $3.40 per share for the year, down from their prior forecast of $3.49. The consensus estimate for Schlumberger’s current full-year earnings is $3.44 per share. Griffin Securities also issued estimates for Schlumberger’s Q4 2024 earnings at $0.91 EPS, Q1 2025 earnings at $0.81 EPS, Q3 2025 earnings at $0.95 EPS, Q4 2025 earnings at $1.03 EPS and FY2025 earnings at $3.70 EPS.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter last year, the company posted $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis.

A number of other brokerages have also recently commented on SLB. Piper Sandler reduced their price target on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Wells Fargo & Company decreased their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Barclays dropped their price target on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Morgan Stanley decreased their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Finally, TD Cowen cut their price target on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Trading Up 0.5 %

Shares of Schlumberger stock opened at $42.13 on Wednesday. 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 stock has a market capitalization of $59.82 billion, a PE ratio of 13.55, a P/E/G ratio of 1.27 and a beta of 1.51. Schlumberger has a 1-year low of $38.66 and a 1-year high of $59.05. The company’s fifty day simple moving average is $43.00 and its 200-day simple moving average is $45.75.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Institutional Investors Weigh In On Schlumberger

Several hedge funds have recently made changes to their positions in the company. Financial Advocates Investment Management grew its holdings in Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 218 shares in the last quarter. Chilton Capital Management LLC increased its holdings in shares of 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 valued at $1,236,000 after acquiring an additional 219 shares during the period. Grove Bank & Trust raised its position in shares of Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 224 shares in the last quarter. First PREMIER Bank lifted its stake in shares of Schlumberger by 8.7% during the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 227 shares during the last quarter. Finally, Team Hewins LLC boosted its position in Schlumberger by 3.0% during the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after purchasing an additional 229 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

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.