Analysts Offer Predictions for Schlumberger Limited’s Q2 2023 Earnings (NYSE:SLB)

Schlumberger Limited (NYSE:SLB – Get Rating) – Equities research analysts at Atb Cap Markets cut their Q2 2023 EPS estimates for shares of Schlumberger in a note issued to investors on Sunday, January 22nd. Atb Cap Markets analyst W. Syed now forecasts that the oil and gas company will earn $0.69 per share for the quarter, down from their previous estimate of $0.71. The consensus estimate for Schlumberger’s current full-year earnings is $3.03 per share. Atb Cap Markets also issued estimates for Schlumberger’s Q3 2023 earnings at $0.81 EPS, Q3 2024 earnings at $1.00 EPS and Q4 2024 earnings at $1.03 EPS.

Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings data on Friday, January 20th. The oil and gas company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.69 by $0.02. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The business had revenue of $7.88 billion during the quarter, compared to analyst estimates of $7.80 billion. During the same period in the prior year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 26.6% on a year-over-year basis.

Other research analysts have also issued reports about the stock. Wolfe Research lowered shares of Schlumberger from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 12th. Susquehanna Bancshares increased their price target on shares of Schlumberger from $52.00 to $59.00 and gave the stock a “positive” rating in a research note on Monday, October 24th. Piper Sandler increased their price target on shares of Schlumberger from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, November 18th. TheStreet upgraded shares of Schlumberger from a “c+” rating to a “b” rating in a research note on Tuesday, October 11th. Finally, HSBC increased their price target on shares of Schlumberger to $56.80 in a research note on Thursday, October 27th. One equities research analyst has rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $57.52.

Schlumberger Stock Down 0.7 %

Shares of Schlumberger stock opened at $55.47 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 0.92. The company has a 50-day moving average of $52.95 and a 200 day moving average of $44.91. The firm has a market cap of $78.66 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.50 and a beta of 1.79. Schlumberger has a 1 year low of $30.65 and a 1 year high of $62.78.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, February 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Tuesday, February 7th. This is an increase from Schlumberger’s previous quarterly dividend of $0.18. Schlumberger’s dividend payout ratio (DPR) is presently 29.17%.

Insider Activity

In other news, EVP Abdellah Merad sold 70,000 shares of the firm’s stock in a transaction dated Monday, January 23rd. The shares were sold at an average price of $57.20, for a total transaction of $4,004,000.00. Following the sale, the executive vice president now owns 204,357 shares of the company’s stock, valued at approximately $11,689,220.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Vijay Kasibhatla sold 14,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $54.15, for a total value of $758,100.00. Following the transaction, the director now owns 32,932 shares of the company’s stock, valued at $1,783,267.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Abdellah Merad sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $57.20, for a total transaction of $4,004,000.00. Following the completion of the transaction, the executive vice president now directly owns 204,357 shares in the company, valued at approximately $11,689,220.40. The disclosure for this sale can be found here. Insiders have sold a total of 269,389 shares of company stock valued at $15,026,271 in the last 90 days. 0.28% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sigma Planning Corp boosted its holdings in shares of Schlumberger by 59.3% in the fourth quarter. Sigma Planning Corp now owns 32,351 shares of the oil and gas company’s stock worth $1,730,000 after buying an additional 12,046 shares during the last quarter. Aaron Wealth Advisors LLC boosted its holdings in shares of Schlumberger by 0.7% in the fourth quarter. Aaron Wealth Advisors LLC now owns 42,479 shares of the oil and gas company’s stock worth $2,271,000 after buying an additional 294 shares during the last quarter. LCM Capital Management Inc purchased a new position in shares of Schlumberger in the fourth quarter worth approximately $214,000. Oak Harvest Investment Services boosted its holdings in shares of Schlumberger by 49.9% in the fourth quarter. Oak Harvest Investment Services now owns 15,640 shares of the oil and gas company’s stock worth $836,000 after buying an additional 5,205 shares during the last quarter. Finally, Forum Financial Management LP raised its stake in Schlumberger by 2.2% during the 4th quarter. Forum Financial Management LP now owns 19,353 shares of the oil and gas company’s stock worth $1,035,000 after acquiring an additional 425 shares during the period. Hedge funds and other institutional investors own 80.22% of the company’s stock.

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.