why Schlumberger Limited [SLB] is a Good Choice for Investors After New Price Target of $63.98

Schlumberger Limited [NYSE: SLB] jumped around 0.48 points on Monday, while shares priced at $54.40 at the close of the session, up 0.89%. The company report on February 3, 2023 that SLB Completes Acquisition of Gyrodata Incorporated.

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Complementary technologies to improve wellbore quality, reduce drilling risk.

SLB (NYSE: SLB) today announced it has completed the acquisition of Gyrodata Incorporated, a global company specializing in gyroscopic wellbore positioning and survey technology. The transaction will incorporate Gyrodata’s wellbore placement and surveying technologies within SLB’s Well Construction business, bringing customers innovative drilling solutions.

Schlumberger Limited stock is now 1.76% up from its year-to-date (YTD) trading value. SLB Stock saw the intraday high of $54.525 and lowest of $53.39 per share. The company’s 52-week high price is 62.78, which means current price is +8.39% above from all time high which was touched on 01/24/23.

Compared to the average trading volume of 9.79M shares, SLB reached a trading volume of 6286334 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]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SLB shares is $63.98 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 1.80. 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.

Susquehanna have made an estimate for Schlumberger Limited shares, keeping their opinion on the stock as Positive, with their previous recommendation back on January 23, 2023. While these analysts kept the previous recommendation, The Benchmark Company raised their target price to Buy. The new note on the price target was released on January 19, 2023, representing the official price target for Schlumberger Limited stock.

The Average True Range (ATR) for Schlumberger Limited is set at 1.87, with the Price to Sales ratio for SLB stock in the period of the last 12 months amounting to 2.72. The Price to Book ratio for the last quarter was 4.37, with the Price to Cash per share for the same quarter was set at 2.06. Price to Free Cash Flow for SLB in the course of the last twelve months was 60.92 with Quick ratio for the last quarter at 0.90.

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 1.99. With this latest performance, SLB shares dropped by -5.34% in over the last four-week period, additionally plugging by 35.42% over the last 6 months – not to mention a rise of 41.96% 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 49.14, with the RSI for the last a single of trading hit 49.19, and the three-weeks RSI is set at 50.11 for Schlumberger Limited [SLB]. The present Moving Average for the last 50 days of trading for this stock 54.42, while it was recorded at 53.49 for the last single week of trading, and 45.17 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 +15.90 and a Gross Margin at +19.48. Schlumberger Limited’s Net Margin is presently recorded at +12.21.

Return on Equity for this stock inclined to 21.05, with Return on Assets sitting at 8.13.

Schlumberger Limited’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 1.20.

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 31.50%.

Insider trade positions for Schlumberger Limited [SLB]

There are presently around $63,518 million, or 85.80% of SLB stock, in the hands of institutional investors. The top three institutional holders of SLB stocks are: VANGUARD GROUP INC with ownership of 125,139,611, which is approximately 1.565% of the company’s market cap and around 0.15% of the total institutional ownership; BLACKROCK INC., holding 105,972,586 shares of the stock with an approximate value of $5.76 billion in SLB stocks shares; and STATE STREET CORP, currently with $4.69 billion in SLB stock with ownership of nearly -5.421% of the company’s market capitalization.

Positions in Schlumberger Limited stocks held by institutional investors increased at the end of Friday and at the time of the Friday reporting period, where 741 institutional holders increased their position in Schlumberger Limited [NYSE:SLB] by around 122,397,460 shares. Additionally, 617 investors decreased positions by around 129,913,632 shares, while 181 investors held positions by with 915,297,401 shares. The mentioned changes placed institutional holdings at 1,167,608,493 shares, according to the latest SEC report filing. SLB stock had 275 new institutional investments in for a total of 28,531,215 shares, while 89 institutional investors sold positions of 12,783,551 shares during the same period.


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