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

Schlumberger Limited (NYSE:SLB – Free Report) – Research analysts at Griffin Securities lowered their fourth-quarter 2024 earnings estimates for shares of Schlumberger in a report issued on Sunday, April 21. Griffin Securities analyst K. Simpson now expects the oil and gas company to 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 on the stock. Barclays lowered their price target 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 4. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price target on Schlumberger’s shares in a report on Monday. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report Monday. TD Cowen lowered their price target 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 reiterated its “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 analysts 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.

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Schlumberger is trading 0.9% lower

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 company 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 company’s fifty-day moving average is $51.71 and its 200-day moving average is $52.25.

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

Institutional trading from Schlumberger

A number of institutional investors have recently changed their positions in the company. BluePath Capital Management LLC bought a new stake in Schlumberger worth $25,000 in the third quarter. MCF Advisors LLC increased 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 worth $29,000 after purchasing an additional 461 shares in the last quarter. Register Financial Advisors LLC bought a new stake in Schlumberger in the first quarter worth about $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Schlumberger in the fourth quarter valued at approximately $26,000. Finally, Transcendent Capital Group LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at approximately $32,000. 81.99% of the shares are 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 company’s stock in a transaction on Monday, January 29. The stock 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 of the company’s stock, valued at approximately $13,151,825.96. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Schlumberger news: Insider Katharina Beumelburg sold 8,000 shares of Schlumberger in a transaction dated Monday, January 29. The shares 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 can be accessed via this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that took place on Monday, January 29. The stock 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 of the company’s stock, valued at approximately $13,151,825.96. The explanation of this sale can be found here. Insiders have sold a total of 90,545 shares of the company’s stock, worth $4,458,430, over the last ninety days. Currently, 0.26% of the shares are owned by insiders.

Schlumberger increases dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11. A dividend of $0.275 per share will be paid to shareholders of record on Wednesday, June 5. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a dividend of $1.10 annually and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, June 5. Schlumberger’s payout ratio currently stands at 36.54%.

Schlumberger Company Profile

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Schlumberger Limited is engaged in providing technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction and Production Systems. The company offers hydrocarbon field development and production, carbon management and adjacent energy system integration; reservoir interpretation and data processing for exploration data; and services and products for well construction and production improvement.

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