Capital One Financial Comments on Schlumberger Limited’s Q1 2024 Earnings (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) – Equities research analysts at Capital One Financial reduced their Q1 2024 earnings per share estimates for shares of Schlumberger in a report issued on Thursday, April 18th. Capital One Financial analyst D. Becker now expects that the oil and gas company will post earnings of $0.75 per share for the quarter, down from their prior estimate of $0.76. The consensus estimate for Schlumberger’s current full-year earnings is $3.52 per share. Capital One Financial also issued estimates for Schlumberger’s Q2 2024 earnings at $0.83 EPS, Q3 2024 earnings at $0.90 EPS, Q4 2024 earnings at $1.00 EPS, FY2024 earnings at $3.47 EPS, Q1 2025 earnings at $0.91 EPS, Q2 2025 earnings at $1.02 EPS, Q3 2025 earnings at $1.09 EPS, Q4 2025 earnings at $1.19 EPS and FY2025 earnings at $4.22 EPS.

SLB has been the topic of a number of other reports. Barclays cut their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Susquehanna reiterated a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a report on Monday, April 8th. Stifel Nicolaus raised their price target on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Wells Fargo & Company boosted their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Finally, Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.31.

Schlumberger Price Performance

NYSE SLB opened at $49.84 on Friday. The company has a market cap of $71.14 billion, a PE ratio of 17.07, a P/E/G ratio of 0.97 and a beta of 1.60. The firm’s 50 day moving average price is $51.62 and its 200-day moving average price is $52.43. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32. Schlumberger has a 52-week low of $42.73 and a 52-week high of $62.12.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter last year, the firm posted $0.63 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.21%. Schlumberger’s dividend payout ratio is presently 37.67%.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The disclosure for this sale can be found here. Insiders have sold a total of 172,191 shares of company stock valued at $8,636,322 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Oak Harvest Investment Services increased its holdings in Schlumberger by 89.8% in the 1st quarter. Oak Harvest Investment Services now owns 226,532 shares of the oil and gas company’s stock valued at $12,416,000 after purchasing an additional 107,206 shares during the last quarter. First Trust Direct Indexing L.P. boosted its position in Schlumberger by 1.4% in the 1st quarter. First Trust Direct Indexing L.P. now owns 45,401 shares of the oil and gas company’s stock valued at $2,488,000 after buying an additional 641 shares during the period. Kovack Advisors Inc. grew its stake in shares of Schlumberger by 6.9% in the first quarter. Kovack Advisors Inc. now owns 43,720 shares of the oil and gas company’s stock worth $2,396,000 after acquiring an additional 2,827 shares in the last quarter. Massachusetts Wealth Management increased its holdings in Schlumberger by 1.3% during the 1st quarter. Massachusetts Wealth Management now owns 57,517 shares of the oil and gas company’s stock worth $3,153,000 after purchasing an additional 750 shares during the period. Finally, DMC Group LLC boosted its stake in shares of Schlumberger by 4.1% in the 1st quarter. DMC Group LLC now owns 7,588 shares of the oil and gas company’s stock valued at $416,000 after buying an additional 300 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.