Schlumberger

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Our 12-month target of $55, down $15, reflects a 9.6x multiple of EV to projected ’24 EBITDA, below SLB’s historical average. We think a discount is merited based on concerns regarding oil demand for ’24. As a result, we downgrade our rating based on fundamentals for ’24, as we believe that int’l activity will exceed North American activity throughout ’24, but not at the levels seen in ’23. We lift our ’23 EPS view by $0.01 to $2.96 and cut ’24’s by $0.13 to $3.59. We expect Q4 23 EPS of $0.83 vs. Q4 22 EPS of $0.71, with earnings to be reported on January 19. SLB’s fortunes are heavily tied to its int’l exposure, which accounts for around 80% of its total revenues. For ’24, we […]

Schlumberger (NYSE:SLB) reported quarterly earnings of $0.78 per share which beat the analyst consensus estimate of $0.77 by 1.3 percent. This is a 23.81 percent increase over earnings of $0.63 per share from the same period last year. The company reported quarterly sales of $8.31 billion which missed the analyst consensus estimate of $8.33 billion by 0.24 percent. This is a 11.14 percent increase over sales of $7.48 billion the same period last year.

Schlumberger Q3 Adj. EPS 78 Cents Vs. 63 Cents a Year Ago, Beats FactSet Consensus 77 Cent。

Schlumberger Says Continues To Target To Return $2B To Shareholders This Year

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month target to $70, down $1, which reflects a 13.8x multiple of EV to projected ’24 EBITDA, a premium to peers. We think a peer premium is merited based on SLB’s peer-leading international and offshore exposure (80% of ’22 revenues vs. a peer average of 66%). We cut our ’23 EPS estimate by $0.04 to $2.95, and lift ’24’s by $0.02 to $3.72. Q3 EPS of $0.78 vs. $0.63, beat consensus by $0.01. Q3 revenue ($8.3B) grew 11% Y/Y, driven by its international segment (+12%). On Wednesday (October 18), the U.S. lifted most of its restrictions against Venezuelan crude for six months. While it is still in the early stages, we think SLB should stand to benefit against its peers, given its track record

Schlumberger (NYSE:SLB) reported Q2 adjusted earnings  of $0.72 per diluted share, up from $0.50 a year earlier. Analysts polled by Capital IQ expected $0.71 per share. Revenue for the quarter ended June 30 was $8.10 billion, up from $6.77 billion a year earlier. Analysts surveyed by Capital IQ expected $8.21 billion. Schlumberger said its board maintained its quarterly dividend of $0.25 per share, payable on Oct. 12 to shareholders as of Sept. 6.

Schlumberger N.V. (NYSE:SLB) changed its name to SLB three and a half months ago and aims to capture billions of dollars in business opportunities through its New Energy division alone. Gavin Rennick, president of Schlumberger N.V., said: “We value two things: impact and scale. If the scale is not in place, it is not a real energy transition business. By focusing on five areas – carbon solutions, hydrogen, geothermal – geothermal energy, energy storage and critical minerals – the new energy business will generate approximately $3 billion in revenue by the end of this decade and at least $10 billion by the end of the next decade.