Why Schlumberger Limited (SLB) Stock Could See Much Higher Prices Ahead

Schlumberger Limited (NYSE: SLB) is -51.69% lower on its value in year-to-date trading and has touched a low of $11.87 and a high of $41.14 in the current 52-week trading range. The SLB stock was last observed hovering at around $18.70 in the last trading session, with the day’s gains setting it 0.72% off its average median price target of $24.00 for the next 12 months. It is also 35.27% off the consensus price target high of $30.00 offered by 31 analysts, but current levels are -21.38% lower than the price target low of $16.00 for the same period.

Currently trading at $19.42, the stock is 0.00% and 2.41% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 12.59 million and changing 3.85% at the moment leaves the stock -21.59% off its SMA200. SLB registered -39.80% loss for a year compared to 6-month loss of -30.12%. The firm has a 50-day simple moving average (SMA 50) of $19.22 and a 200-day simple moving average (SMA200) of $19.18.

The stock witnessed a 5.31% gain in the last 1 month and extending the period to 3 months gives it a 5.37%, and is 4.52% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.92% over the week and 3.61% over the month.

Schlumberger Limited (SLB) has around 105000 employees, a market worth around $25.96B and $29.58B in sales. Fwd P/E is 29.03. Profit margin for the company is -73.90%. Distance from 52-week low is 63.61% and -52.80% from its 52-week high. The company has generated returns on investments over the last 12 months (-24.50%).

Schlumberger Limited (SLB) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Schlumberger Limited (SLB) is a “Overweight”. 31 analysts offering their recommendations for the stock have an average rating of 2.20, where 10 rate it as a Hold and 3 think it is a “Overweight”. 18 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Schlumberger Limited is expected to release its quarterly report on 10/15/2020 and quarterly earnings per share for the current quarter are estimated at $0.13 with sales reaching $5.39B over the same period.The EPS is expected to shrink by -576.90% this year, but quarterly earnings will post -28.50% year-over-year. Quarterly sales are estimated to shrink -36.90% in year-over-year returns.

Schlumberger Limited (SLB) Top Institutional Holders

1,687 institutions hold shares in Schlumberger Limited (SLB), with 2.3M shares held by insiders accounting for 0.17% while institutional investors hold 79.83% of the company’s shares. The shares outstanding are 1.39B, and float is at 1.39B with Short Float at 1.36%. Institutions hold 79.70% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 119.58 million shares valued at $2.2 billion. The investor’s holdings represent 8.61% of the SLB Shares outstanding. As of Jun 29, 2020, the second largest holder is Blackrock Inc. with 101.62 million shares valued at $1.87 billion to account for 7.32% of the shares outstanding. The other top investors are Dodge & Cox Inc which holds 89.07 million shares representing 6.42% and valued at over $1.64 billion, while State Street Corporation holds 5.57% of the shares totaling 77.29 million with a market value of $1.42 billion.

Schlumberger Limited (SLB) Insider Activity

A total of 43 insider transactions have happened at Schlumberger Limited (SLB) in the last six months, with sales accounting for 14 and purchases happening 29 times. The most recent transaction is an insider purchase by Papa Mark G, the company’s Director. SEC filings show that Papa Mark G bought 15,000 shares of the company’s common stock on Aug 05 at a price of $19.46 per share for a total of $0.29 million. Following the purchase, the insider now owns 50131.0 shares.

Schlumberger Limited disclosed in a document filed with the SEC on May 28 that Merad Abdellah (EVP, Performance Management) sold a total of 14,822 shares of the company’s common stock. The trade occurred on May 28 and was made at $19.19 per share for $0.28 million. Following the transaction, the insider now directly holds 54750.0 shares of the SLB stock.

Still, SEC filings show that on May 20, Schorn Patrick (EVP Wells) disposed off 34,468 shares at an average price of $17.83 for $0.61 million. The insider now directly holds 80,000 shares of Schlumberger Limited (SLB).

Schlumberger Limited (SLB): Who are the competitors?

The company’s main competitors (and peers) include Seacor Holdings Inc. (CKH) that is trading -33.09% down over the past 12 months. Short interest in the company’s stock has fallen -3.56% from the last report on Jul 14, 2020 to stand at a total of 19.5 million short shares sold with a short interest ratio of 1.58.