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

Posted by Defense World Staff on Apr 12th, 2023

Schlumberger Limited (NYSE:SLB – Get Rating) – Atb Cap Markets boosted their Q1 2023 earnings per share (EPS) estimates for Schlumberger in a report released on Saturday, April 8th. Atb Cap Markets analyst W. Syed now anticipates that the oil and gas company will earn $0.58 per share for the quarter, up from their previous forecast of $0.57. The consensus estimate for Schlumberger’s current full-year earnings is $3.02 per share. Atb Cap Markets also issued estimates for Schlumberger’s FY2025 earnings at $4.32 EPS.

Several other brokerages also recently issued reports on SLB. HSBC increased their price target on Schlumberger from $56.80 to $75.00 and gave the stock a “buy” rating in a report on Monday, January 30th. Susquehanna decreased their price objective on Schlumberger from $68.00 to $65.00 in a report on Monday, April 3rd. Wolfe Research downgraded Schlumberger from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 12th. Citigroup increased their price objective on Schlumberger from $62.00 to $67.00 and gave the stock a “buy” rating in a report on Tuesday, January 24th. Finally, The Goldman Sachs Group increased their price objective on Schlumberger from $58.00 to $65.00 and gave the stock a “buy” rating in a report on Monday, January 30th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $64.07.

Schlumberger Stock Up 2.2 %

Shares of Schlumberger stock opened at $51.14 on Tuesday. Schlumberger has a 1 year low of $30.65 and a 1 year high of $62.78. The business has a 50-day moving average of $51.58 and a two-hundred day moving average of $50.90. The company has a market capitalization of $73.04 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 0.43 and a beta of 1.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 0.92.

Schlumberger (NYSE:SLB – Get Rating) last announced its quarterly 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 company had revenue of $7.88 billion during the quarter, compared to the consensus estimate of $7.80 billion. During the same period in the prior year, the company earned $0.41 earnings per share. The company’s revenue for the quarter was up 26.6% compared to the same quarter last year.

Institutional Trading of Schlumberger

Several institutional investors have recently added to or reduced their stakes in SLB. Acadian Asset Management LLC bought a new stake in Schlumberger in the 1st quarter valued at $25,000. Cetera Investment Advisers boosted its stake in Schlumberger by 35.3% in the 1st quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock valued at $1,623,000 after purchasing an additional 10,240 shares during the period. Dakota Wealth Management bought a new stake in Schlumberger in the 1st quarter valued at $232,000. Sequoia Financial Advisors LLC acquired a new position in Schlumberger in the 1st quarter valued at $419,000. Finally, Baird Financial Group Inc. raised its holdings in Schlumberger by 2.9% in the 1st quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock valued at $4,627,000 after acquiring an additional 3,209 shares in the last quarter. 80.22% of the stock is currently owned by institutional investors.

Insider Activity at Schlumberger

In related news, CAO Howard Guild sold 33,063 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $56.99, for a total transaction of $1,884,260.37. Following the completion of the transaction, the chief accounting officer now directly owns 35,994 shares of the company’s stock, valued at $2,051,298.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $44.77, for a total transaction of $279,812.50. Following the completion of the transaction, the chief financial officer now directly owns 219,765 shares in the company, valued at approximately $9,838,879.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Howard Guild sold 33,063 shares of Schlumberger stock in a transaction that occurred on Monday, January 23rd. The stock was 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 owns 35,994 shares of the company’s stock, valued at $2,051,298.06. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 265,453 shares of company stock valued at $14,955,915. Insiders own 0.23% of the company’s stock.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 6th. Investors of record on Wednesday, February 8th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, February 7th. 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%. Schlumberger’s dividend payout ratio is 41.67%.

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).