Schlumberger Limited (NYSE:SLB – Get Rating) – Analysts at Capital One Financial boosted their Q2 2023 earnings per share estimates for shares of Schlumberger in a research report issued to clients and investors on Monday, April 18th. Capital One Financial analyst L. Lemoine now expects that the oil and gas company will earn $0.57 per share for the quarter, up from their prior estimate of $0.56. Capital One Financial also issued estimates for Schlumberger’s Q3 2023 earnings at $0.65 EPS and FY2023 earnings at $2.42 EPS.
Schlumberger (NYSE:SLB – Get Rating) last announced its earnings results on Friday, January 21st. The oil and gas company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.02. The business had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.09 billion. Schlumberger had a net margin of 8.20% and a return on equity of 13.32%. The firm’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter last year, the company posted $0.22 EPS.
Shares of Schlumberger stock opened at $42.68 on Thursday. The stock has a market capitalization of $60.31 billion, a P/E ratio of 32.33 and a beta of 2.02. The company has a quick ratio of 0.91, a current ratio of 1.22 and a debt-to-equity ratio of 0.87. The company has a 50-day simple moving average of $41.13 and a 200 day simple moving average of $36.00. Schlumberger has a 12-month low of $24.52 and a 12-month high of $46.27.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 7th. Investors of record on Wednesday, February 9th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.17%. The ex-dividend date was Tuesday, February 8th. Schlumberger’s payout ratio is 37.88%.
In other Schlumberger news, CAO Howard Guild sold 25,500 shares of the firm’s stock in a transaction that occurred on Wednesday, January 26th. The shares were sold at an average price of $39.02, for a total transaction of $995,010.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Kevin Fyfe sold 20,708 shares of the firm’s stock in a transaction that occurred on Wednesday, March 2nd. The stock was sold at an average price of $38.50, for a total transaction of $797,258.00. The disclosure for this sale can be found here. Insiders have sold a total of 105,451 shares of company stock worth $4,190,908 in the last three months. 0.28% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. raised its holdings in Schlumberger by 16.9% during the 4th quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company’s stock worth $3,339,042,000 after buying an additional 16,123,949 shares during the period. State Street Corp raised its holdings in shares of 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 purchasing an additional 554,778 shares during the last quarter. Norges Bank bought a new stake in shares of Schlumberger in the fourth quarter worth $938,856,000. Boston Partners boosted its holdings in Schlumberger by 6.5% during the fourth quarter. Boston Partners now owns 24,189,830 shares of the oil and gas company’s stock worth $725,420,000 after purchasing an additional 1,474,462 shares during the last quarter. Finally, Geode Capital Management LLC grew its position 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 purchasing 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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