Schlumberger FY2024 EPS Reduced by Capital One Financial

Schlumberger Limited (NYSE:SLB - Free Report) - Equities researchers at Capital One Financial dropped their FY2024 EPS estimates for Schlumberger in a research note issued on Monday, October 21st. Capital One Financial analyst D. Becker now forecasts that the oil and gas company will earn $3.39 per share for the year, down from their previous estimate of $3.49. The consensus estimate for Schlumberger's current full-year earnings is $3.44 per share. Capital One Financial also issued estimates for Schlumberger's Q4 2024 earnings at $0.91 EPS, Q1 2025 earnings at $0.78 EPS, Q2 2025 earnings at $0.91 EPS, Q3 2025 earnings at $0.95 EPS and Q4 2025 earnings at $1.01 EPS.

Several other research firms have also recently weighed in on SLB. Dbs Bank started coverage on shares of Schlumberger in a report on Wednesday, September 18th. They set a "buy" rating and a $64.50 price objective for the company. Bank of America dropped their price target on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, October 14th. BMO Capital Markets reduced their price objective on Schlumberger from $60.00 to $58.00 and set an "outperform" rating for the company in a research report on Thursday, October 10th. TD Cowen cut their price target on Schlumberger from $68.00 to $65.00 and set a "buy" rating for the company in a research note on Monday. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Schlumberger from $64.00 to $60.00 and set an "overweight" rating on the stock in a research note on Tuesday, October 1st. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat, Schlumberger has an average rating of "Moderate Buy" and a consensus target price of $61.58.

Schlumberger Stock Performance

NYSE:SLB traded up $0.20 during mid-day trading on Wednesday, reaching $42.13. The company's stock had a trading volume of 11,053,013 shares, compared to its average volume of 11,106,159. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The stock has a market cap of $59.82 billion, a P/E ratio of 13.55, a PEG ratio of 1.27 and a beta of 1.51. The firm's fifty day moving average price is $43.00 and its two-hundred day moving average price is $45.75. Schlumberger has a 12-month low of $38.66 and a 12-month high of $59.05.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the business posted $0.78 EPS. The company's revenue was up 10.2% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Crescent Grove Advisors LLC bought a new position in shares of Schlumberger in the 2nd quarter valued at about $257,000. National Bank of Canada FI increased its position in shares of Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company's stock valued at $21,726,000 after purchasing an additional 51,637 shares during the last quarter. Mission Wealth Management LP purchased a new stake in Schlumberger during the 1st quarter valued at $245,000. Public Sector Pension Investment Board lifted its position in Schlumberger by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company's stock worth $89,723,000 after buying an additional 11,813 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its position in Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company's stock valued at $43,217,000 after acquiring an additional 64,974 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.61%. Schlumberger's dividend payout ratio is currently 35.37%.

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.