why Schlumberger Limited [SLB] is a Good Choice for Investors After New Price Target of $57.31

Schlumberger Limited [NYSE: SLB] traded at a high on 11/04/22, posting a 2.51 gain after which it closed the day’ session at $53.10. The company report on November 1, 2022 that SLB to Host 2022 Investors Conference.

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SLB (NYSE: SLB) today announced that it is hosting its 2022 Investors Conference on Thursday, November 3, 2022 in New York.

Olivier Le Peuch, chief executive officer, SLB, will present at the Investors Conference beginning at approximately 8:30 a.m. US Eastern Time (ET), where he will discuss, among other things, SLB’s strategy and business outlook. In addition, Stephane Biguet, chief financial officer, SLB, will present at the conference beginning at approximately 4:05 p.m. ET, where he will discuss, among other things, SLB’s financial performance, strategic objectives, 2023 guidance, and capital allocation framework.

The results of the trading session contributed to over 16761196 shares changing hands. Over the past one week, the price volatility of Schlumberger Limited stands at 3.52% while the volatility over the past one month is 3.88%.

The market cap for SLB stock reached $76.00 billion, with 1.42 billion shares outstanding and 1.42 billion shares in the current float. Compared to the average trading volume of 13.05M shares, SLB reached a trading volume of 16761196 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Schlumberger Limited [SLB]?

Jefferies have made an estimate for Schlumberger Limited shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 19, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on October 07, 2022, representing the official price target for Schlumberger Limited stock. Previously, the target price had yet another raise to $55, while The Benchmark Company analysts kept a Buy rating on SLB stock. On April 27, 2022, analysts increased their price target for SLB shares from 4.60 to 44.20.

The Average True Range (ATR) for Schlumberger Limited is set at 1.93, with the Price to Sales ratio for SLB stock in the period of the last 12 months amounting to 2.87. The Price to Book ratio for the last quarter was 4.38, with the Price to Cash per share for the same quarter was set at 2.52. Price to Free Cash Flow for SLB in the course of the last twelve months was 42.94 with Quick ratio for the last quarter at 1.00.

How has SLB stock performed recently?

Schlumberger Limited [SLB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.25. With this latest performance, SLB shares gained by 24.97% in over the last four-week period, additionally plugging by 23.40% over the last 6 months – not to mention a rise of 60.18% 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 72.42, with the RSI for the last a single of trading hit 74.16, and the three-weeks RSI is set at 69.94 for Schlumberger Limited [SLB]. The present Moving Average for the last 50 days of trading for this stock 42.13, while it was recorded at 51.92 for the last single week of trading, and 40.19 for the last 200 days.

Schlumberger Limited [SLB]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Schlumberger Limited [SLB] shares currently have an operating margin of +13.93 and a Gross Margin at +17.82. Schlumberger Limited’s Net Margin is presently recorded at +8.20.

Return on Equity for this stock inclined to 13.89, with Return on Assets sitting at 4.48.

Schlumberger Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.40.

Earnings analysis for Schlumberger Limited [SLB]

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 44.40%.

Insider trade positions for Schlumberger Limited [SLB]

There are presently around $61,081 million, or 82.90% of SLB stock, in the hands of institutional investors. The top three institutional holders of SLB stocks are: VANGUARD GROUP INC with ownership of 121,817,814, which is approximately 0.376% of the company’s market cap and around 0.16% of the total institutional ownership; BLACKROCK INC., holding 108,340,029 shares of the stock with an approximate value of $5.75 billion in SLB stocks shares; and STATE STREET CORP, currently with $4.76 billion in SLB stock with ownership of nearly -2.055% of the company’s market capitalization.

Positions in Schlumberger Limited stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 639 institutional holders increased their position in Schlumberger Limited [NYSE:SLB] by around 139,768,592 shares. Additionally, 574 investors decreased positions by around 94,278,461 shares, while 201 investors held positions by with 916,261,619 shares. The mentioned changes placed institutional holdings at 1,150,308,672 shares, according to the latest SEC report filing. SLB stock had 152 new institutional investments in for a total of 23,657,836 shares, while 123 institutional investors sold positions of 4,855,384 shares during the same period.


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