The stock of Schlumberger Limited. (NYSE:SLB) hit a new 52-week high and has $93.13 target or 9.00% above today’s $85.44 share price. The 9 months bullish chart indicates low risk for the $125.02 billion company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $93.13 price target is reached, the company will be worth $11.25 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.14 million shares traded hands. Schlumberger Limited. (NYSE:SLB) has risen 5.35% since April 28, 2016 and is uptrending. It has underperformed by 0.57% the S&P500.
Analysts await Schlumberger Limited. (NYSE:SLB) to report earnings on January, 20 before the open. They expect $0.28 EPS, down 56.92% or $0.37 from last year’s $0.65 per share. SLB’s profit will be $409.71M for 76.30 P/E if the $0.28 EPS becomes a reality. After $0.25 actual EPS reported by Schlumberger Limited. for the previous quarter, Wall Street now forecasts 12.00% EPS growth.
Schlumberger Limited. (NYSE:SLB) Ratings Coverage
Out of 24 analysts covering Schlumberger Limited. (NYSE:SLB), 20 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 83% are positive. $120 is the highest target while $71 is the lowest. The $88.96 average target is 4.12% above today’s ($85.44) stock price. Schlumberger Limited. has been the topic of 73 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The stock has “Equal Weight” rating given by Barclays Capital on Monday, January 25. As per Monday, January 25, the company rating was maintained by Howard Weil. The stock has “Buy” rating given by Citigroup on Wednesday, October 5. The rating was maintained by Oppenheimer with “Outperform” on Monday, January 25. The rating was maintained by Credit Suisse with “Outperform” on Monday, April 4. The firm has “Buy” rating by Evercore given on Saturday, August 22. Howard Weil downgraded Schlumberger Limited. (NYSE:SLB) on Thursday, May 12 to “Sector Ourperform” rating. As per Friday, October 16, the company rating was maintained by Cowen & Co. Griffen Securities downgraded the stock to “Sell” rating in Monday, April 25 report. The company was upgraded on Thursday, September 3 by Citigroup.
According to Zacks Investment Research, “Schlumberger Limited is a global technology services company consisting of two business segments, Schlumberger Oilfield Services and SchlumbergerSema. Schlumberger Oilfield Services is the leading provider of exploration and production services, solutions and technology to the international petroleum industry. SchlumbergerSema is a leading information technology services company providing a unique combination of domain expertise and global capabilities delivered on a local basis.”
Insitutional Activity: The institutional sentiment decreased to 1.09 in 2016 Q2. Its down 0.50, from 1.59 in 2016Q1. The ratio turned negative, as 60 funds sold all Schlumberger Limited. shares owned while 438 reduced positions. 109 funds bought stakes while 682 increased positions. They now own 1.07 billion shares or 5.14% more from 1.02 billion shares in 2016Q1.
Outfitter, a Virginia-based fund reported 19,040 shares. Gemmer Asset Ltd Liability Com reported 947 shares or 0.04% of all its holdings. M&T Savings Bank Corp owns 862,893 shares or 0.46% of their US portfolio. Telos Capital Management holds 0.87% of its portfolio in Schlumberger Limited. (NYSE:SLB) for 22,449 shares. Davenport & Limited Liability Corporation accumulated 0% or 580,058 shares. National Pension Serv last reported 0.56% of its portfolio in the stock. Blume Cap accumulated 4.98% or 60,827 shares. Aqr Management Lc has 0.01% invested in the company for 74,971 shares. Norinchukin Financial Bank The last reported 143,222 shares in the company. Shelter Mutual accumulated 2.98% or 124,160 shares. Adirondack Trust owns 6,047 shares or 0.34% of their US portfolio. Quantbot Tech Lp reported 67,356 shares or 0.57% of all its holdings. Ferguson Wellman Mngmt has invested 0.29% of its portfolio in Schlumberger Limited. (NYSE:SLB). Guardian, a California-based fund reported 1.76 million shares. Concannon Wealth Limited Liability Corp accumulated 3,539 shares or 0.29% of the stock.
Insider Transactions: Since June 7, 2016, the stock had 0 insider purchases, and 13 sales for $12.64 million net activity. $4.18M worth of Schlumberger Limited. (NYSE:SLB) shares were sold by AYAT SIMON. On Thursday, June 9 the insider KIBSGAARD PAAL sold $2.63 million. The insider MARKS MICHAEL E sold 13,600 shares worth $1.10M. Biguet Stephane sold 4,227 shares worth $331,904. Another trade for 1,000 shares valued at $80,620 was sold by Laureles Saul R.. $195,225 worth of shares were sold by SANDVOLD TORE I on Friday, September 30. On Monday, July 25 Gatti Amerino sold $330,525 worth of the stock or 4,068 shares.
More news for Schlumberger Limited. (NYSE:SLB) were recently published by: Investorplace.com, which released: “Trade of the Day: Schlumberger Limited. (SLB) Pushing Forward” on December 01, 2016. Seekingalpha.com‘s article titled: “Schlumberger: Rigs Of The Future On Their Way” and published on November 29, 2016 is yet another important article.
SLB Company Profile
Schlumberger N.V., incorporated on November 6, 1956, is a supplier of technology, integrated project management and information solutions to the international gas and oil exploration and production industry. The Firm operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production.
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