Schlumberger Limited (NYSE:SLB – Get Rating) – Investment analysts at Atb Cap Markets boosted their Q1 2023 EPS estimates for shares of Schlumberger in a research report issued to clients and investors on Sunday, January 22nd. Atb Cap Markets analyst W. Syed now anticipates that the oil and gas company will post earnings of $0.57 per share for the quarter, up from their prior forecast of $0.56. The consensus estimate for Schlumberger’s current full-year earnings is $3.01 per share. Atb Cap Markets also issued estimates for Schlumberger’s Q4 2023 earnings at $0.89 EPS and Q1 2024 earnings at $0.79 EPS.
SLB has been the topic of several other research reports. Griffin Securities reissued a “buy” rating on shares of Schlumberger in a research report on Monday, January 16th. The Goldman Sachs Group boosted their target price on shares of Schlumberger from $46.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, October 25th. Piper Sandler boosted their target price on shares of Schlumberger from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Friday, November 18th. Royal Bank of Canada boosted their target price on shares of Schlumberger from $59.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 8th. Finally, StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $57.52.
Schlumberger Stock Down 0.7 %
Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings data on Friday, January 20th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The firm had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the previous year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 26.6% compared to the same quarter last year.
Institutional Investors Weigh In On Schlumberger
A number of large investors have recently modified their holdings of SLB. Acadian Asset Management LLC purchased a new stake in shares of Schlumberger in the first quarter valued at about $25,000. Clearview Wealth Advisors LLC grew its holdings in shares of Schlumberger by 1,346.0% in the third quarter. Clearview Wealth Advisors LLC now owns 723 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 673 shares during the period. Castle Wealth Management LLC purchased a new stake in shares of Schlumberger in the second quarter valued at about $27,000. James Investment Research Inc. purchased a new stake in shares of Schlumberger in the third quarter valued at about $28,000. Finally, SRS Capital Advisors Inc. grew its holdings in shares of Schlumberger by 216.0% in the second quarter. SRS Capital Advisors Inc. now owns 809 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 553 shares during the period. Hedge funds and other institutional investors own 80.22% of the company’s stock.
Insiders Place Their Bets
In other Schlumberger news, VP Kevin Fyfe sold 6,095 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $53.00, for a total transaction of $323,035.00. Following the completion of the transaction, the vice president now directly owns 35,535 shares in the company, valued at $1,883,355. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Gavin Rennick sold 21,368 shares of the company’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $54.85, for a total transaction of $1,172,034.80. Following the completion of the sale, the insider now owns 32,565 shares of the company’s stock, valued at $1,786,190.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin Fyfe sold 6,095 shares of the company’s stock in a transaction on Monday, November 7th. The stock was sold at an average price of $53.00, for a total transaction of $323,035.00. Following the sale, the vice president now directly owns 35,535 shares of the company’s stock, valued at approximately $1,883,355. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 269,389 shares of company stock worth $15,026,271. Company insiders own 0.28% of the company’s stock.
Schlumberger Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Wednesday, February 8th will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, February 7th. This is a boost from Schlumberger’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 1.80%. Schlumberger’s dividend payout ratio is currently 29.17%.
Schlumberger Company Profile
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.
- Get a free copy of the StockNews.com research report on Schlumberger (SLB)
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