Q1 2024 EPS Estimates for Schlumberger Limited Cut by Capital One Financial (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) – Capital One Financial reduced their Q1 2024 EPS estimates for Schlumberger in a note issued to investors on Thursday, April 18th. Capital One Financial analyst D. Becker now anticipates that the oil and gas company will post earnings of $0.75 per share for the quarter, down from their previous 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.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The business had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. During the same period in the previous year, the firm posted $0.71 earnings per share. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year.

Other research analysts also recently issued research reports about the stock. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Wednesday, April 3rd. HSBC reiterated a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Wells Fargo & Company raised their price target on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. Finally, Barclays cut their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.31.

Schlumberger Trading Up 0.3 %

NYSE:SLB opened at $50.94 on Friday. Schlumberger has a 12 month low of $42.73 and a 12 month high of $62.12. The firm has a fifty day simple moving average of $51.56 and a 200-day simple moving average of $52.48. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $72.71 billion, a P/E ratio of 17.45, a PEG ratio of 0.97 and a beta of 1.60.

Institutional Trading of Schlumberger

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in Schlumberger during the fourth quarter worth about $1,000,292,000. Price T Rowe Associates Inc. MD boosted its holdings in Schlumberger by 12.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock worth $3,922,768,000 after buying an additional 8,617,971 shares in the last quarter. Winslow Capital Management LLC boosted its holdings in Schlumberger by 123,063.5% during the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after buying an additional 4,344,141 shares in the last quarter. Legal & General Group Plc boosted its holdings in Schlumberger by 25.9% during the fourth quarter. Legal & General Group Plc now owns 11,742,455 shares of the oil and gas company’s stock worth $611,077,000 after buying an additional 2,412,610 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Schlumberger by 79.7% during the third quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock worth $286,835,000 after buying an additional 2,182,706 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, 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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction dated 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 sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,191 shares of company stock worth $8,636,322. 0.26% of the stock is currently owned by corporate insiders.

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.