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Why Schlumberger Limited (NYSE: SLB) Is A Stock Not To Be Discarded In 2023

In the last trading session, 7.54 million shares of the Schlumberger Limited (NYSE:SLB) were traded, and its beta was 1.79. Most recently the company’s share price was $46.06, and it changed around $0.06 or 0.13% from the last close, which brings the market valuation of the company to $65.04B. SLB currently trades at a discount to its 52-week high of $59.45, offering almost -29.07% off that amount. The share price’s 52-week low was $30.65, which indicates that the current value has risen by an impressive 33.46% since then. We note from Schlumberger Limited’s average daily trading volume that its 10-day average is 10.21 million shares, with the 3-month average coming to 9.76 million.

Schlumberger Limited stock received a consensus recommendation rating of a Buy, based on a mean score of 1.80. If we narrow it down even further, the data shows that 0 out of 31 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 2 recommended SLB as a Hold, whereas 25 deemed it a Buy, and 0 rated it as Underweight. Schlumberger Limited is expected to report earnings per share of $0.71 for the current quarter.

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Schlumberger Limited (NYSE:SLB) trade information

Instantly SLB has showed a green trend with a performance of 0.13% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 46.49 on Tuesday, 05/23/23 increased the stock’s daily price by 0.92%. The company’s shares are currently down -13.84% year-to-date, but still up 6.50% over the last five days. On the other hand, Schlumberger Limited (NYSE:SLB) is -8.28% up in the 30-day period. We can see from the shorts that 21.51 million shares have been sold at a short interest cover period of 2.42 day(s).

The consensus price target as assigned by Wall Street analysts is $65.23, which translates to bulls needing to increase their stock price by 29.39% from its current value. Analyst projections state that SLB is forecast to be at a low of $55.00 and a high of $75.00. In order for the stock price to hit the forecast high, the stock would need to plunge -62.83% from its current level, while the stock would need to crash -19.41% from its current level to reach the projected low.

Schlumberger Limited (SLB) estimates and forecasts

Schlumberger Limited share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -13.81 percent over the past six months and at a 38.07% annual growth rate that is well above the industry average of 38.00%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 42.00% in revenue this quarter, and will report an increase of 25.40% in the next quarter. The year-over-year growth rate is expected to be 18.30%, up from the previous year.

Consensus estimates provided by 18 financial analysts predict the company will bring in an average of $8.23 billion in revenue for the current quarter. 18 analysts expect Schlumberger Limited to make $8.45 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $6.77 billion and $7.09 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 21.60%. Forecasts for the next quarter put sales growth at 19.20%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 34.00%. Schlumberger Limited earnings are expected to increase by 81.70% in 2023, but the outlook is positive 32.70% per year for the next five years.

SLB Dividends

Schlumberger Limited’s next quarterly earnings report is expected to be released around July 20 and July 24. The annual dividend yield of the stock is 2.17 percent and its annual dividend per share was 1.00. It is important to note, however, that the 2.17% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Schlumberger Limited (NYSE:SLB)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.19% of Schlumberger Limited shares, and 83.28% of them are in the hands of institutional investors. The stock currently has a share float of 83.44%. Schlumberger Limited stock is held by 1,911 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2023, it held 8.97% of the shares, which is about 127.41 million shares worth $6.26 billion.

Blackrock Inc., with 7.44% or 105.69 million shares worth $5.19 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select were the top two Mutual Funds as of Dec 30, 2022. The former held 43.1 million shares worth $2.3 billion, making up 3.02% of all outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held roughly 36.83 million shares worth around $1.96 billion, which represents about 2.58% of the total shares outstanding.

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