Q1 2023 EPS Estimates for Schlumberger Limited Boosted by Analyst (NYSE:SLB)

Schlumberger Limited (NYSE:SLBGet 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 %

Shares of Schlumberger stock opened at $55.47 on Wednesday. The firm’s 50 day moving average price is $52.95 and its 200-day moving average price is $44.91. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. Schlumberger has a 52-week low of $30.65 and a 52-week high of $62.78. The company has a market cap of $78.66 billion, a P/E ratio of 23.11, a PEG ratio of 0.49 and a beta of 1.79.

Schlumberger (NYSE:SLBGet 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

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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.

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Earnings History and Estimates for Schlumberger (NYSE:SLB)

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