In yesterday’s Wall Street session, Schlumberger Ltd. (NYSE:SLB) shares traded at $49.51, down -0.68% from the previous session.
SLB stock price is now -3.76% away from the 50-day moving average and -8.75% away from the 200-day moving average. The market capitalization of the company currently stands at $70.46B.
With the price target reduced from $64 to $63, TD Cowen maintained Buy rating for Schlumberger Ltd. (NYSE: SLB). On October 09, 2023, Societe Generale recently initiated its ‘Buy’ rating on the stock quoting a target price of $81, while ‘CapitalOne’ rates the stock as ‘Overweight’
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 $12.95 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 $12.03 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 0.56, a current ratio of 1.37, and a quick ratio of 1.02.
The net profit margin was 12.72% and return on equity was 21.69% 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.
