Schlumberger Limited [SLB] stock Initiated by Goldman analyst, price target now $38

Schlumberger Limited [NYSE: SLB] stock went on an upward path that rose over 1.54% on Friday, amounting to a one-week price increase of more than 1.94%. The company report on July 23, 2021 that Schlumberger Announces Second-Quarter 2021 Results.

Global revenue of $5.6 billion increased 8% sequentially.

International revenue was $4.5 billion and North America revenue was $1.1 billion.

Over the last 12 months, SLB stock rose by 47.20%. The one-year Schlumberger Limited stock forecast points to a potential upside of 12.21. The average equity rating for SLB stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $39.13 billion, with 1.40 billion shares outstanding and 1.40 billion shares in the current float. Compared to the average trading volume of 12.60M shares, SLB stock reached a trading volume of 12735242 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Schlumberger Limited [SLB]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SLB shares is $32.36 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SLB stock is a recommendation set at 2.10. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Goldman have made an estimate for Schlumberger Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on May 13, 2021. The new note on the price target was released on April 26, 2021, representing the official price target for Schlumberger Limited stock. Previously, the target price had yet another raise from $27 to $31, while BofA Securities kept a Buy rating on SLB stock.

The Average True Range (ATR) for Schlumberger Limited is set at 1.23, with the Price to Sales ratio for SLB stock in the period of the last 12 months amounting to 1.83. The Price to Book ratio for the last quarter was 3.17, with the Price to Cash per share for the same quarter was set at 2.11. Price to Free Cash Flow for SLB in the course of the last twelve months was 80.50 with Quick ratio for the last quarter at 1.00.

SLB Stock Performance Analysis:

Schlumberger Limited [SLB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.94. With this latest performance, SLB shares dropped by -13.59% in over the last four-week period, additionally plugging by 16.39% over the last 6 months – not to mention a rise of 47.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SLB stock in for the last two-week period is set at 39.18, with the RSI for the last a single of trading hit 39.65, and the three-weeks RSI is set at 41.03 for Schlumberger Limited [SLB]. The present Moving Average for the last 50 days of trading for this stock 32.14, while it was recorded at 27.74 for the last single week of trading, and 25.81 for the last 200 days.

Insight into Schlumberger Limited Fundamentals:

Schlumberger Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.30.

SLB Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SLB. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Schlumberger Limited go to 50.40%.

Schlumberger Limited [SLB] Insider Position Details

There are presently around $30,182 million, or 77.90% of SLB stock, in the hands of institutional investors. The top three institutional holders of SLB stocks are: VANGUARD GROUP INC with ownership of 118,679,246, which is approximately 2.892% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 109,407,465 shares of the stock with an approximate value of $3.11 billion in SLB stocks shares; and STATE STREET CORP, currently with $2.49 billion in SLB stock with ownership of nearly 8.348% of the company’s market capitalization.

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Positions in Schlumberger Limited stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 524 institutional holders increased their position in Schlumberger Limited [NYSE:SLB] by around 123,303,461 shares. Additionally, 515 investors decreased positions by around 120,813,770 shares, while 171 investors held positions by with 818,250,508 shares. The mentioned changes placed institutional holdings at 1,062,367,739 shares, according to the latest SEC report filing. SLB stock had 143 new institutional investments in for a total of 11,007,293 shares, while 92 institutional investors sold positions of 11,054,215 shares during the same period.

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