Research Analysts Set Expectations for Schlumberger Limited’s Q1 2023 Earnings (NYSE:SLB)

Posted by Defense World Staff on Apr 12th, 2023

Schlumberger Limited (NYSE:SLB – Get Rating) – Equities research analysts at Jefferies Financial Group boosted their Q1 2023 earnings estimates for Schlumberger in a note issued to investors on Sunday, April 9th. Jefferies Financial Group analyst L. Byrne now anticipates that the oil and gas company will post earnings of $0.61 per share for the quarter, up from their prior forecast of $0.59. The consensus estimate for Schlumberger’s current full-year earnings is $3.02 per share.

Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings results 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 company had revenue of $7.88 billion during the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm’s quarterly revenue was up 26.6% on a year-over-year basis.

SLB has been the subject of several other research reports. The Goldman Sachs Group boosted their price objective on shares of Schlumberger from $58.00 to $65.00 and gave the stock a “buy” rating in a research report on Monday, January 30th. StockNews.com started coverage on shares of Schlumberger in a research report on Thursday, March 16th. They set a “hold” rating for the company. Wolfe Research downgraded shares of Schlumberger from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 12th. Susquehanna reduced their price objective on shares of Schlumberger from $68.00 to $65.00 in a research report on Monday, April 3rd. Finally, Benchmark started coverage on shares of Schlumberger in a research report on Thursday, January 19th. They set a “buy” rating and a $65.00 price objective for the company. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.07.

Schlumberger Stock Up 2.2 %

Shares of Schlumberger stock opened at $51.14 on Tuesday. Schlumberger has a 52-week low of $30.65 and a 52-week high of $62.78. The company has a 50 day moving average of $51.58 and a 200 day moving average of $50.90. The company has a quick ratio of 0.92, a current ratio of 1.25 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $73.04 billion, a P/E ratio of 21.31, a P/E/G ratio of 0.43 and a beta of 1.76.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 6th. Shareholders of record on Wednesday, February 8th were paid a $0.25 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 1.96%. The ex-dividend date was Tuesday, February 7th. Schlumberger’s payout ratio is currently 41.67%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CAO Howard Guild sold 33,063 shares of the business’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $56.99, for a total value of $1,884,260.37. Following the transaction, the chief accounting officer now directly owns 35,994 shares of the company’s stock, valued at approximately $2,051,298.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Howard Guild sold 33,063 shares of the company’s stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $56.99, for a total transaction of $1,884,260.37. Following the transaction, the chief accounting officer now directly owns 35,994 shares of the company’s stock, valued at approximately $2,051,298.06. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 70,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 204,357 shares in the company, valued at $11,689,220.40. The disclosure for this sale can be found here. In the last three months, insiders have sold 265,453 shares of company stock valued at $14,955,915. 0.23% of the stock is owned by company insiders.

Institutional Investors Weigh In On Schlumberger

Several institutional investors and hedge funds have recently made changes to their positions in the business. Sawtooth Solutions LLC lifted its holdings in Schlumberger by 3.3% in the 3rd quarter. Sawtooth Solutions LLC now owns 12,150 shares of the oil and gas company’s stock valued at $436,000 after purchasing an additional 388 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Schlumberger in the 3rd quarter valued at about $180,000. Moody National Bank Trust Division lifted its holdings in Schlumberger by 3.4% in the 3rd quarter. Moody National Bank Trust Division now owns 29,675 shares of the oil and gas company’s stock valued at $1,065,000 after purchasing an additional 983 shares in the last quarter. Texas Permanent School Fund lifted its holdings in Schlumberger by 7.2% in the 3rd quarter. Texas Permanent School Fund now owns 200,127 shares of the oil and gas company’s stock valued at $7,185,000 after purchasing an additional 13,430 shares in the last quarter. Finally, Clarius Group LLC lifted its holdings in Schlumberger by 11.7% in the 3rd quarter. Clarius Group LLC now owns 13,509 shares of the oil and gas company’s stock valued at $485,000 after purchasing an additional 1,414 shares in the last quarter. 80.22% of the stock is currently owned by hedge funds and other institutional investors.

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 digital solutions and data products with its Asset Performance Solutions (APS).