In yesterday’s Wall Street session, Schlumberger Ltd. (NYSE:SLB) shares traded at $52.87, down -0.68% from the previous session.
SLB stock price is now 6.53% away from the 50-day moving average and -1.12% away from the 200-day moving average. The market capitalization of the company currently stands at $75.75B.
With the price target of $81, Societe Generale recently initiated with Buy rating for Schlumberger Ltd. (NYSE: SLB). On June 07, 2023, CapitalOne recently initiated its ‘Overweight’ rating on the stock quoting a target price of $63, while ‘UBS’ rates the stock as ‘Buy’
In other news, Merad Abdellah, EVP, Core Services & Equipment sold 50,000 shares of the company’s stock on Feb 26 ’24. The stock was sold for $2,426,000 at an average price of $48.52. Upon completion of the transaction, the EVP, Core Services & Equipment now directly owns 261,507 shares in the company, valued at $13.83 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 26 ’24, EVP & CFO Biguet Stephane sold 6,250 shares of the business’s stock. A total of $304,000 was realized by selling the stock at an average price of $48.64. This leaves the insider owning 242,932 shares of the company worth $12.84 million. A total of 0.21% of the company’s stock is owned by insiders.
During the past 12 months, Schlumberger Ltd. has had a low of $42.73 and a high of $62.12. As of last week, the company has a debt-to-equity ratio of 0.62, a current ratio of 1.32, and a quick ratio of 1.00. According to the stock market information, the enterprise value for the company is $83.71B, which is based on a 18.16 price-to-earnings ratio, a 0.92 price-to-earnings-growth ratio, and a beta of 1.60. The fifty day moving average price for SLB is $49.63 and a two-hundred day moving average price translates $53.51 for the stock.
The latest earnings results from Schlumberger Ltd. (NYSE: SLB) was released for Dec, 2023. According to the Oil & Gas Equipment & Services Company, earnings per share came in at $0.86, beating analysts’ expectations of $0.84 by 0.02. This compares to $0.73 EPS in the same period last year. The net profit margin was 12.69% and return on equity was 22.19% for SLB. The company reported revenue of $8.99 billion for the quarter, compared to $7.88 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 14.1 percent. For the current quarter, analysts expect SLB to generate $8.7B in revenue.
Schlumberger Ltd.(SLB) Company Profile
Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products. It also offers subsurface geology and fluids evaluation information; open and cased hole services; exploration and production pressure, and flow-rate measurement services; and pressure pumping, well stimulation, and coiled tubing equipment solutions. In addition, the company offers mud logging, directional drilling, measurement-while-drilling, and logging-while-drilling services, as well as engineering support services; supplies drilling fluid systems; designs, manufactures, and markets roller cone and fixed cutter drill bits; bottom-hole-assembly and borehole enlargement technologies; well cementing products and services; well planning, well drilling, engineering, supervision, logistics, procurement, and contracting of third parties, as well as drilling rig management solutions; and drilling equipment and services, as well as land drilling rigs and related services. Further, it provides artificial lift production equipment and optimization services; supplies packers, safety valves, sand control technology, and various intelligent well completions technology and equipment; designs and manufactures valves, chokes, actuators, and surface trees; and OneSubsea, an integrated solutions, products, systems, and services, including wellheads, subsea trees, manifolds and flowline connectors, control systems, connectors, and services. The company was formerly known as Socie´te´ de Prospection E´lectrique. Schlumberger Limited was founded in 1926 and is based in Houston, Texas.
