Schlumberger Limited (NYSE: SLB – Get a rating) – Capital One Financial analysts raised their Q2 2023 earnings per share estimates for Schlumberger shares in a research report delivered to clients and investors on Monday, April 18. Capital One Financial analyst L. Lemoine now expects the oil and gas company to earn $0.57 per share for the quarter, up from its previous estimate of $0.56. Capital One Financial also released estimates of Schlumberger Q3 2023 earnings at $0.65 EPS and full-year 2023 earnings at $2.42 EPS.
Schlumberg (NYSE: SLB – Get a rating) last announced its results on Friday, January 21. The oil and gas company reported earnings per share (EPS) of $0.41 for the quarter, beating analysts’ consensus estimate of $0.39 by $0.02. The company posted revenue of $6.23 billion in the quarter, versus $6.09 billion expected by analysts. Schlumberger had a net margin of 8.20% and a return on equity of 13.32%. The company’s revenue for the quarter increased 12.5% on an annual basis. In the same quarter last year, the company posted EPS of $0.22.
A number of other brokerages also commented on SLB. Piper Sandler moved Schlumberger shares from a “neutral” rating to an “overweight” rating and raised her price target for the stock from $43.00 to $55.00 in a Monday, April 11 report . Zacks Investment Research downgraded Schlumberger shares from a “buy” rating to a “hold” rating and set a price target of $44.00 for the stock. in a report on Tuesday, March 15. Stephens raised his price target on Schlumberger shares from $40.00 to $45.00 and gave the stock an “overweight” rating in a Monday, Jan. 24, report. Wells Fargo & Company raised its price target on Schlumberger stock from $45.00 to $56.00 and gave the stock an “overweight” rating in a Thursday, March 31 report. Finally, Stifel Nicolaus raised his price target on Schlumberger shares from $44.00 to $50.00 in a Friday, April 8 report. Three research analysts gave the stock a hold rating, sixteen gave the stock a buy rating and one gave the stock a strong buy rating. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $44.45.
Shares of Schlumberger stock opened at $42.68 on Thursday. The stock has a market capitalization of $60.31 billion, a P/E ratio of 32.33 and a beta of 2.02. The company has a quick ratio of 0.91, a current ratio of 1.22 and a debt ratio of 0.87. The company has a 50-day simple moving average of $41.13 and a 200-day simple moving average of $36.00. Schlumberger has a 12-month low of $24.52 and a 12-month high of $46.27.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 7. Investors of record on Wednesday, February 9 received a dividend of $0.125 per share. This represents an annualized dividend of $0.50 and a yield of 1.17%. The ex-dividend date was Tuesday, February 8. Schlumberger’s payout ratio is 37.88%.
In other Schlumberger, CAD news Howard’s Guild sold 25,500 shares of the company in a transaction that took place on Wednesday, January 26. The shares were sold at an average price of $39.02, for a total transaction of $995,010.00. The sale was disclosed in a filing with the SEC, which is available via the SEC website. Also, Vice President Kevin Fyfe sold 20,708 shares of the company in a trade that took place on Wednesday, March 2. The stock was sold at an average price of $38.50, for a total transaction of $797,258.00. Disclosure of this sale can be found here. Insiders sold a total of 105,451 shares of the company worth $4,190,908 in the past three months. 0.28% of the shares are held by insiders.
A number of hedge funds have recently changed their positions in the business. BlackRock Inc. increased its stake in Schlumberger by 16.9% during the 4th quarter. BlackRock Inc. now owns 111,487,119 shares of the oil and gas company worth $3,339,042,000 after purchasing an additional 16,123,949 shares during the period. State Street Corp increased its stake in Schlumberger shares by 0.6% in the fourth quarter. State Street Corp now owns 91,556,288 shares of the oil and gas company valued at $2,753,092,000 after buying an additional 554,778 shares in the last quarter. Norges Bank bought a new equity stake in Schlumberger in the fourth quarter worth $938,856,000. Boston Partners increased its stake in Schlumberger by 6.5% during the fourth quarter. Boston Partners now owns 24,189,830 shares of the oil and gas company worth $725,420,000 after purchasing an additional 1,474,462 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Schlumberger by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 23,408,484 shares of the oil and gas company valued at $699,052,000 after purchasing an additional 714,053 shares last quarter. Hedge funds and other institutional investors hold 75.52% of the company’s shares.
About Schlumberger (Get a rating)
Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction and Production Systems. It offers software, information management and IT infrastructure services; consulting services for reservoir characterization, field development planning and production enhancement; petrotechnical technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased hole services; exploration and production pressure and flow measurement services; pressure pumping, well stimulation and coiled tubing equipment for downhole mechanical intervention, reservoir monitoring and downhole data acquisition; and integrated production systems.
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