Schlumberger Ltd. [NYSE: SLB] price surged by 2.24 percent to reach at $1.13. The company report on February 6, 2024 at 4:15 PM that Nabors Announces Fourth Quarter 2023 Results.
Nabors Industries Ltd. (“Nabors” or the “Company”) (NYSE: NBR) today reported fourth quarter 2023 operating revenues of $726 million, compared to operating revenues of $734 million in the third quarter. The net loss attributable to Nabors shareholders for the quarter was $17 million, compared to a net loss of $49 million in the third quarter. This equates to a loss of $2.70 per diluted share, compared to a loss per diluted share of $6.26 in the third quarter. The fourth quarter results included a gain, related to mark-to-market treatment of Nabors warrants, of $10 million, or $1.14 per diluted share, compared to a charge of $8 million, or $0.86 per diluted share, in the third quarter. Fourth quarter adjusted EBITDA was $230 million, compared to $210 million in the previous quarter.
Full-year 2023 operating revenues were $3.0 billion, compared to $2.7 billion in the prior year. This 13% overall increase was driven by growth in all company segments. Nabors Drilling Solutions and Rig Technologies both expanded by 24%. U.S. Drilling revenue increased by 10%, while International Drilling was 12% higher than in 2022.
The one-year SLB stock forecast points to a potential upside of 24.39. The average equity rating for SLB stock is currently 1.26, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Schlumberger Ltd. [SLB]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SLB shares is $68.15 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 1.26. 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.
Societe Generale have made an estimate for Schlumberger Ltd. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 09, 2023. While these analysts kept the previous recommendation, CapitalOne raised their target price to Overweight. The new note on the price target was released on June 07, 2023, representing the official price target for Schlumberger Ltd. stock. Previously, the target price had yet another raise from $48 to $66, while UBS kept a Buy rating on SLB stock. On January 23, 2023, analysts increased their price target for SLB shares from 65 to 68.
The Average True Range (ATR) for Schlumberger Ltd. is set at 1.02, with the Price to Sales ratio for SLB stock in the period of the last 12 months amounting to 2.23. The Price to Book ratio for the last quarter was 3.64, with the Price to Cash per share for the same quarter was set at 2.78. Price to Free Cash Flow for SLB in the course of the last twelve months was 15.72 with Quick ratio for the last quarter at 1.00.
SLB Stock Performance Analysis:
Schlumberger Ltd. [SLB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.27. With this latest performance, SLB shares gained by 7.83% in over the last four-week period, additionally sinking by -14.36% over the last 6 months – not to mention a drop of -1.26% 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 65.18, with the RSI for the last a single of trading hit 74.07, and the three-weeks RSI is set at 59.04 for Schlumberger Ltd. [SLB]. The present Moving Average for the last 50 days of trading for this stock 49.61, while it was recorded at 50.48 for the last single week of trading, and 53.36 for the last 200 days.
Insight into Schlumberger Ltd. Fundamentals:
Schlumberger Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.00 and a Current Ratio set at 1.32.
SLB Stock EPS
With the latest financial reports released by the company, Schlumberger Ltd. posted 0.63/share EPS, while the average EPS was predicted by analysts to be reported at 0.6/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 5.00%. 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 Ltd. go to 19.70%.
Schlumberger Ltd. [SLB] Institutonal Ownership Details
The top three institutional holders of SLB stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in SLB stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in SLB stock with ownership which is approximately 5.8325%.
