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Schlumberger Ltd. (SLB) Analysis & Forecast for 2024

Schlumberger Ltd. (NYSE: SLB) is 5.07% higher on its value in year-to-date trading and has touched a low of $42.73 and a high of $62.12 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The SLB stock was last observed hovering at around $55.22 in the last trading session, with the day’s loss setting it -0.54%.

Currently trading at $54.68, the stock is 3.55% and 8.01% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 18.49 million and changing -0.98% at the moment leaves the stock 1.44% off its SMA200. SLB registered 12.19% gain for a year compared to 6-month loss of -6.21%. The firm has a 50-day simple moving average (SMA 50) of $2.60 and a 200-day simple moving average (SMA200) of $11.44.

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The stock witnessed a 10.80% gain in the last 1 month and extending the period to 3 months gives it a 5.07%, and is 0.68% 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 2.15% over the week and 1.86% over the month.

Schlumberger Ltd. (SLB) has around 111000 employees, a market worth around $78.34B and $33.13B in sales. Current P/E ratio is 18.79 and Fwd P/E is 13.15. Profit margin for the company is 12.69%. Distance from 52-week low is 27.97% and -11.98% from its 52-week high. The company has generated returns on investments over the last 12 months (13.28%).

Schlumberger Ltd. quarterly earnings per share for the current quarter are estimated at $0.75 with sales reaching $8.7B over the same period.The EPS is expected to grow by 18.60% this year, but quarterly earnings will post 12.40% year-over-year. Quarterly sales are estimated to grow 12.40% in year-over-year returns.

Schlumberger Ltd. (SLB) Top Institutional Holders

2,009 institutions hold shares in Schlumberger Ltd. (SLB), with institutional investors hold 83.74% of the company’s shares. The shares outstanding are 1.43B, and float is at 1.43B with Short Float at 1.48%. Institutions hold 83.58% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 129.12 million shares valued at $6.34 billion. The investor’s holdings represent 9.09% of the SLB Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 106.82 million shares valued at $5.25 billion to account for 7.52% of the shares outstanding. The other top investors are State Street Corporation which holds 83.79 million shares representing 5.90% and valued at over $4.12 billion, while Capital World Investors holds 3.03% of the shares totaling 43.08 million with a market value of $2.12 billion.

Schlumberger Ltd. (SLB) Insider Activity

The most recent transaction is an insider sale by Merad Abdellah,the company’sEVP, Core Services & Equipment. SEC filings show that Merad Abdellah sold 50,000 shares of the company’s common stock on Feb 26 ’24 at a price of $48.52 per share for a total of $2.43 million. Following the sale, the insider now owns 0.26 million shares.

Schlumberger Ltd. disclosed in a document filed with the SEC on Feb 26 ’24 that Biguet Stephane (EVP & CFO) sold a total of 6,250 shares of the company’s common stock. The trade occurred on Feb 26 ’24 and was made at $48.64 per share for $0.3 million. Following the transaction, the insider now directly holds 0.24 million shares of the SLB stock.

Still, SEC filings show that on Feb 01 ’24, Rennick Gavin (President New Energy) disposed off 20,045 shares at an average price of $48.77 for $0.98 million. The insider now directly holds 77,563 shares of Schlumberger Ltd. (SLB).

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