Griffin Securities Analysts Reduce Earnings Estimates for Schlumberger Limited (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) – Research analysts at Griffin Securities lowered their Q4 2024 earnings estimates for shares of Schlumberger in a report released on Sunday, April 21st. Griffin Securities analyst K. Simpson now anticipates that the oil and gas company will post earnings per share of $1.01 for the quarter, down from their previous forecast of $1.06. The consensus estimate for Schlumberger’s current full-year earnings is $3.50 per share.

Other analysts have also issued research reports about the stock. Barclays decreased their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a report on Monday. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Monday. TD Cowen reduced their target price on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday. Finally, Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research report on Monday. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.67.

Schlumberger Trading Down 0.9 %

Shares of SLB opened at $49.11 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger has a 52-week low of $42.73 and a 52-week high of $62.12. The firm has a market cap of $70.10 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 0.95 and a beta of 1.60. The business’s fifty day moving average is $51.71 and its 200-day moving average is $52.25.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same period last year, the firm posted $0.63 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year.

Institutional Trading of Schlumberger

A number of institutional investors have recently modified their holdings of the business. BluePath Capital Management LLC bought a new stake in Schlumberger in the third quarter worth $25,000. MCF Advisors LLC lifted its position in Schlumberger by 1,355.9% during the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 461 shares in the last quarter. Register Financial Advisors LLC bought a new stake in Schlumberger during the first quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Schlumberger in the fourth quarter worth about $26,000. Finally, Transcendent Capital Group LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $32,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Schlumberger news, insider Katharina Beumelburg sold 8,000 shares of Schlumberger stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.62, for a total value of $420,960.00. Following the sale, the insider now owns 15,581 shares of the company’s stock, valued at $819,872.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Insiders sold a total of 90,545 shares of company stock valued at $4,458,430 over the last ninety days. 0.26% of the stock is currently owned by insiders.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

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.