Schlumberger Limited (NYSE:SLB) Expected to Post Q1 2022 Earnings of $0.32 Per Share

Schlumberger Limited (NYSE:SLBGet Rating) – Equities researchers at Piper Sandler decreased their Q1 2022 earnings per share (EPS) estimates for shares of Schlumberger in a report released on Monday, April 11th. Piper Sandler analyst I. Macpherson now anticipates that the oil and gas company will post earnings per share of $0.32 for the quarter, down from their previous estimate of $0.37. Piper Sandler has a “Overweight” rating and a $55.00 price target on the stock. Piper Sandler also issued estimates for Schlumberger’s Q4 2022 earnings at $0.60 EPS, Q1 2023 earnings at $0.59 EPS, Q2 2023 earnings at $0.66 EPS, Q3 2023 earnings at $0.74 EPS, Q4 2023 earnings at $0.77 EPS and FY2023 earnings at $2.76 EPS.

A number of other equities analysts have also recently commented on SLB. Susquehanna Bancshares increased their target price on Schlumberger from $41.00 to $43.00 in a report on Monday, January 24th. Susquehanna increased their price target on Schlumberger from $41.00 to $43.00 in a report on Monday, January 24th. The Goldman Sachs Group raised Schlumberger from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, March 22nd. Citigroup increased their price target on Schlumberger from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, January 24th. Finally, Morgan Stanley increased their price target on Schlumberger from $43.00 to $50.00 and gave the company an “overweight” rating in a report on Monday. Three research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $44.45.

Shares of Schlumberger stock opened at $41.53 on Tuesday. The business has a 50 day simple moving average of $40.65 and a two-hundred day simple moving average of $35.50. Schlumberger has a 12 month low of $24.52 and a 12 month high of $46.27. The stock has a market capitalization of $58.68 billion, a P/E ratio of 31.46 and a beta of 2.02. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.22 and a quick ratio of 0.91.

Schlumberger (NYSE:SLBGet Rating) last announced its earnings results on Friday, January 21st. The oil and gas company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.02. Schlumberger had a return on equity of 13.32% and a net margin of 8.20%. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.09 billion. During the same quarter in the prior year, the firm earned $0.22 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 7th. Stockholders of record on Wednesday, February 9th were given a dividend of $0.125 per share. The ex-dividend date was Tuesday, February 8th. This represents a $0.50 annualized dividend and a dividend yield of 1.20%. Schlumberger’s dividend payout ratio is currently 37.88%.

In related news, VP Claudia Jaramillo sold 11,628 shares of Schlumberger stock in a transaction on Wednesday, March 30th. The stock was sold at an average price of $43.00, for a total value of $500,004.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Howard Guild sold 25,500 shares of Schlumberger stock in a transaction on Wednesday, January 26th. The shares were sold at an average price of $39.02, for a total value of $995,010.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 105,451 shares of company stock valued at $4,190,908. Company insiders own 0.28% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in Schlumberger by 16.9% in the fourth quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company’s stock valued at $3,339,042,000 after purchasing an additional 16,123,949 shares during the period. State Street Corp raised its stake in Schlumberger by 0.6% in the fourth quarter. State Street Corp now owns 91,556,288 shares of the oil and gas company’s stock valued at $2,753,092,000 after buying an additional 554,778 shares in the last quarter. Norges Bank acquired a new stake in Schlumberger in the fourth quarter valued at $938,856,000. Boston Partners raised its stake in Schlumberger by 6.5% in the fourth quarter. Boston Partners now owns 24,189,830 shares of the oil and gas company’s stock valued at $725,420,000 after buying an additional 1,474,462 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in Schlumberger by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 23,408,484 shares of the oil and gas company’s stock valued at $699,052,000 after buying an additional 714,053 shares in the last quarter. Hedge funds and other institutional investors own 75.52% of the company’s stock.

About Schlumberger (Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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Earnings History and Estimates for Schlumberger (NYSE:SLB)

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