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

Schlumberger Limited (NYSE:SLB) – Equities researchers at Capital One Financial decreased their Q1 2024 earnings per share estimates for shares of Schlumberger in a report released on Thursday, April 18th. Capital One Financial analyst D. Becker now expects that the oil and gas company will earn $0.75 per share for the quarter, down from their previous forecast 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 earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The firm had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.96 billion. During the same quarter in the prior year, the company earned $0.71 EPS. Schlumberger’s revenue was up 14.1% on a year-over-year basis.

SLB has been the topic of several other research reports. Royal Bank of Canada increased their target price on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Barclays reduced their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Wednesday, April 3rd. Bank of America increased their price target on Schlumberger from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Monday. Finally, Susquehanna reaffirmed a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $70.31.

Schlumberger Price Performance

SLB opened at $50.94 on Friday. The stock’s 50-day moving average price is $51.56 and its 200 day moving average price is $52.48. Schlumberger has a 12-month low of $42.73 and a 12-month high of $62.12. 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 firm has a market cap of $72.71 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 0.97 and a beta of 1.60.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders have sold 172,191 shares of company stock worth $8,636,322 in the last quarter. 0.26% of the stock is owned by insiders.

Institutional Trading of Schlumberger

Hedge funds have recently modified their holdings of the business. BluePath Capital Management LLC acquired a new stake in shares of Schlumberger in the 3rd quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new position in Schlumberger during the first quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger during the fourth quarter worth $26,000. Register Financial Advisors LLC acquired a new position in Schlumberger during the first quarter worth $27,000. Finally, Coppell Advisory Solutions LLC acquired a new position in Schlumberger during the second quarter worth $27,000. 81.99% of the stock is 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.