Schlumberger Limited (NYSE:SLB – Get Rating) – Analysts at Griffin Securities decreased their Q1 2023 earnings per share (EPS) estimates for Schlumberger in a research report issued on Sunday, January 22nd. Griffin Securities analyst K. Simpson now forecasts that the oil and gas company will earn $0.60 per share for the quarter, down from their previous estimate of $0.64. Griffin Securities has a “Buy” rating on the stock. The consensus estimate for Schlumberger’s current full-year earnings is $3.03 per share. Griffin Securities also issued estimates for Schlumberger’s Q2 2023 earnings at $0.74 EPS, Q3 2023 earnings at $0.80 EPS, Q4 2023 earnings at $0.86 EPS, FY2023 earnings at $3.00 EPS, Q1 2024 earnings at $0.78 EPS, Q2 2024 earnings at $0.94 EPS, Q3 2024 earnings at $1.00 EPS, Q4 2024 earnings at $1.09 EPS and FY2024 earnings at $3.80 EPS.
Schlumberger (NYSE:SLB – Get Rating) last announced its quarterly earnings results on Friday, January 20th. The oil and gas company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. The company had revenue of $7.88 billion during the quarter, compared to analyst estimates of $7.80 billion. Schlumberger had a return on equity of 18.51% and a net margin of 12.25%. The firm’s revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.41 earnings per share.
Schlumberger Stock Performance
Shares of NYSE:SLB opened at $55.47 on Tuesday. The firm has a market capitalization of $78.66 billion, a PE ratio of 23.11, a P/E/G ratio of 0.50 and a beta of 1.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 0.92. The business has a 50-day moving average of $52.95 and a two-hundred day moving average of $44.91. Schlumberger has a 12 month low of $30.65 and a 12 month high of $62.78.
Hedge Funds Weigh In On Schlumberger
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 123,210,874 shares of the oil and gas company’s stock worth $4,423,270,000 after buying an additional 1,393,060 shares during the period. State Street Corp boosted its position in shares of Schlumberger by 1.7% in the third quarter. State Street Corp now owns 91,245,791 shares of the oil and gas company’s stock worth $3,291,135,000 after buying an additional 1,537,620 shares during the period. FMR LLC boosted its position in shares of Schlumberger by 44.9% in the second quarter. FMR LLC now owns 32,671,828 shares of the oil and gas company’s stock worth $1,168,374,000 after buying an additional 10,121,321 shares during the period. Amundi boosted its position in shares of Schlumberger by 1.5% in the second quarter. Amundi now owns 29,555,312 shares of the oil and gas company’s stock worth $931,195,000 after buying an additional 439,979 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Schlumberger by 59.3% in the second quarter. Jennison Associates LLC now owns 28,917,488 shares of the oil and gas company’s stock worth $1,034,089,000 after buying an additional 10,761,322 shares during the period. 80.22% of the stock is currently owned by institutional investors and hedge funds.
In other news, VP Kevin Fyfe sold 6,095 shares of Schlumberger stock in a transaction on Monday, November 7th. The stock was sold at an average price of $53.00, for a total transaction of $323,035.00. Following the transaction, the vice president now directly owns 35,535 shares in the company, valued at approximately $1,883,355. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Kevin Fyfe sold 6,095 shares of Schlumberger stock in a transaction on Monday, November 7th. The stock was sold at an average price of $53.00, for a total value of $323,035.00. Following the transaction, the vice president now directly owns 35,535 shares in the company, valued at approximately $1,883,355. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 70,000 shares of Schlumberger stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $57.20, for a total value of $4,004,000.00. Following the completion of the transaction, the executive vice president now owns 204,357 shares in the company, valued at $11,689,220.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 269,389 shares of company stock worth $15,026,271. 0.28% of the stock is owned by company insiders.
Schlumberger Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, February 8th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, February 7th. This is a boost from Schlumberger’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. Schlumberger’s dividend payout ratio (DPR) is 29.17%.
Schlumberger Company Profile
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.
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