Atb Cap Markets Comments on Schlumberger Limited's Q4 2024 Earnings (NYSE:SLB)

Schlumberger Limited (NYSE:SLB - Free Report) - Equities research analysts at Atb Cap Markets reduced their Q4 2024 earnings per share estimates for Schlumberger in a report issued on Tuesday, October 1st. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will earn $0.92 per share for the quarter, down from their prior estimate of $1.01. The consensus estimate for Schlumberger's current full-year earnings is $3.49 per share.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts' consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. Schlumberger's revenue for the quarter was up 12.8% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS.

Several other research analysts have also weighed in on the company. StockNews.com lowered Schlumberger from a "buy" rating to a "hold" rating in a report on Thursday, June 6th. Susquehanna cut their price objective on Schlumberger from $77.00 to $70.00 and set a "positive" rating on the stock in a report on Thursday, July 11th. Evercore ISI increased their target price on Schlumberger from $73.00 to $74.00 and gave the stock an "outperform" rating in a research note on Monday, July 22nd. UBS Group cut their price target on shares of Schlumberger from $63.00 to $57.00 and set a "buy" rating on the stock in a research note on Wednesday, September 18th. Finally, Wells Fargo & Company lowered their price objective on shares of Schlumberger from $53.00 to $49.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and an average target price of $65.29.

Schlumberger Trading Up 1.3 %

Shares of NYSE SLB traded up $0.57 during midday trading on Friday, reaching $45.46. 11,294,703 shares of the stock were exchanged, compared to its average volume of 11,081,596. Schlumberger has a 12 month low of $38.66 and a 12 month high of $61.20. The company has a market capitalization of $64.55 billion, a price-to-earnings ratio of 15.15, a P/E/G ratio of 0.90 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The business has a 50-day simple moving average of $43.41 and a two-hundred day simple moving average of $46.86.

Institutional Trading of Schlumberger

Several institutional investors have recently added to or reduced their stakes in SLB. LifePlan Financial LLC boosted its holdings in Schlumberger by 6.0% in the 3rd quarter. LifePlan Financial LLC now owns 18,422 shares of the oil and gas company's stock valued at $773,000 after purchasing an additional 1,046 shares during the period. Rockland Trust Co. raised its position in shares of Schlumberger by 10.4% in the third quarter. Rockland Trust Co. now owns 319,381 shares of the oil and gas company's stock valued at $13,398,000 after buying an additional 30,162 shares in the last quarter. Canandaigua National Bank & Trust Co. boosted its stake in shares of Schlumberger by 6.4% in the third quarter. Canandaigua National Bank & Trust Co. now owns 54,916 shares of the oil and gas company's stock valued at $2,304,000 after buying an additional 3,286 shares during the period. Bright Rock Capital Management LLC boosted its stake in shares of Schlumberger by 50.0% in the third quarter. Bright Rock Capital Management LLC now owns 150,000 shares of the oil and gas company's stock valued at $6,292,000 after buying an additional 50,000 shares during the period. Finally, Czech National Bank grew its position in Schlumberger by 6.2% during the third quarter. Czech National Bank now owns 289,269 shares of the oil and gas company's stock worth $12,135,000 after buying an additional 16,919 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the business's stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares of the company's stock, valued at approximately $12,432,012.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company's stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock worth $9,048,624 over the last 90 days. Company insiders own 0.26% of the company's stock.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger's dividend payout ratio (DPR) is presently 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.