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Let’s Dive Into The Schlumberger Limited (NYSE: SLB) Stock Forecast.

In the latest trading session, 1.45 million Schlumberger Limited (NYSE:SLB) shares changed hands as the company’s beta touched 1.82. With the company’s most recent per share price at $60.94 changed hands at -$0.27 or -0.44% at last look, the market valuation stands at $88.07B. SLB’s current price is a discount, trading about -1.94% off its 52-week high of $62.12. The share price had its 52-week low at $33.80, which suggests the last value was 44.54% up since then. When we look at Schlumberger Limited’s average trading volume, we note the 10-day average is 9.46 million shares, with the 3-month average coming to 9.42 million.

Schlumberger Limited (NYSE:SLB) trade information

Instantly SLB was in red as seen in intraday trades today. With action -1.87%, the performance over the past five days has been red. The drop to weekly highs of 62.03 on Monday, 09/18/23 subtracted -0.44% to the stock’s daily price. The company’s shares are showing year-to-date upside of 13.99%, with the 5-day performance at -1.87% in the red. However, in the 30-day time frame, Schlumberger Limited (NYSE:SLB) is 5.01% up. Looking at the short shares, we see there were 21.06 million shares sold at short interest cover period of 2.87 days.

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Schlumberger Limited (SLB) estimates and forecasts

Data shows that the Schlumberger Limited share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 31.85% over the past 6 months, a 36.70% in annual growth rate that is considerably higher than the industry average of 19.10%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Schlumberger Limited will rise 23.80%, while the growth in revenue is estimated to hit 21.10% for the next quarter. Year-over-year growth is forecast to reach 17.10% up from the last financial year.

Consensus estimates given by 20 financial analysts project the company’s revenue in the current quarter to hit an average of $8.35 billion. 20 analysts are of the opinion that Schlumberger Limited’s revenue for the quarter ending Dec 2023 will be $8.68 billion. The company’s revenue for the corresponding quarters a year ago was $7.09 billion and $7.88 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 17.80%. The estimates for the next quarter sales put growth at 10.20%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 34.00%. The 2023 estimates are for Schlumberger Limited earnings to increase by 81.70%, but the outlook for the next 5-year period is at 32.70% per year.

SLB Dividends

Schlumberger Limited is expected to release its next quarterly earnings report between October 19 and October 23. The 1.64% annual yield figure for the share gives it an annual dividend of 1.00. It is important to note, however, that the 1.64% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Schlumberger Limited (NYSE:SLB)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.20% of Schlumberger Limited shares while 83.38% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 83.55%. There are 83.38% institutions holding the Schlumberger Limited stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 9.09% of the shares, roughly 129.12 million SLB shares worth $6.34 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.52% or 106.82 million shares worth $5.25 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Select Sector SPDR Fund-Energy Select. With 44.45 million shares estimated at $2.18 billion under it, the former controlled 3.13% of total outstanding shares. On the other hand, Select Sector SPDR Fund-Energy Select held about 2.43% of the shares, roughly 34.59 million shares worth around $2.02 billion.

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