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

Schlumberger Limited (NYSE:SLB – Get Rating) – Investment analysts at Atb Cap Markets increased their Q1 2023 earnings per share (EPS) estimates for Schlumberger in a report released on Sunday, January 22nd. Atb Cap Markets analyst W. Syed now anticipates that the oil and gas company will earn $0.57 per share for the quarter, up from their previous 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.

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

Several other analysts have also issued reports on the company. The Goldman Sachs Group upped their target price on Schlumberger from $46.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 25th. Wolfe Research lowered Schlumberger from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 12th. Susquehanna Bancshares upped their price objective on Schlumberger from $52.00 to $59.00 and gave the company a “positive” rating in a research note on Monday, October 24th. Susquehanna upped their target price on Schlumberger from $65.00 to $68.00 and gave the company a “positive” rating in a research report on Monday. Finally, TheStreet raised Schlumberger from a “c+” rating to a “b” rating in a research report on Tuesday, October 11th. Two equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.52.

Schlumberger Stock Performance

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

Hedge Funds Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in shares of Schlumberger in the 1st quarter worth about $25,000. Clearview Wealth Advisors LLC lifted its holdings in shares of Schlumberger by 1,346.0% in the 3rd quarter. Clearview Wealth Advisors LLC now owns 723 shares of the oil and gas company’s stock worth $26,000 after acquiring an additional 673 shares during the last quarter. Castle Wealth Management LLC bought a new stake in shares of Schlumberger in the 2nd quarter worth about $27,000. James Investment Research Inc. bought a new stake in shares of Schlumberger in the 3rd quarter worth about $28,000. Finally, SRS Capital Advisors Inc. lifted its holdings in shares of Schlumberger by 216.0% in the 2nd quarter. SRS Capital Advisors Inc. now owns 809 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 553 shares during the last quarter. 80.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

In related news, CAO Howard Guild sold 20,053 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were sold at an average price of $53.00, for a total transaction of $1,062,809.00. Following the transaction, the chief accounting officer now owns 35,994 shares in the company, valued at $1,907,682. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Kevin Fyfe sold 6,095 shares of the firm’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 of the company’s stock, valued at $1,883,355. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Howard Guild sold 20,053 shares of the firm’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 $1,062,809.00. Following the transaction, the chief accounting officer now directly owns 35,994 shares of the company’s stock, valued at $1,907,682. The disclosure for this sale can be found here. Insiders have sold a total of 269,389 shares of company stock worth $15,026,271 over the last quarter. 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. Investors of record on Wednesday, February 8th will be given a dividend of $0.25 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, February 7th. This represents a $1.00 dividend on an annualized basis and a yield of 1.80%. Schlumberger’s dividend payout ratio is 29.17%.

About Schlumberger

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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.