Despite Market Volatility, SLB Stock Rose Over 2% Over the Week

Schlumberger NV (NYSE: SLB) stock added around 0.25% on the June 29 trading session. It opened trading at $48.87, dipped to $47.66, hit a high of $48.91, and closed at $48.47 with an intraday trading volume of 10.506 Million.

SLB stock added around 1% on the June 28 trading session while opening at $48.06. The low was $47.33, high was $48.88 and it closed at $48.59 with an intraday trading volume of 9.204 million.

Earlier on June 27, SLB Stock price surged around 1.65% and in a week, stock prices rose by around 3.05%, an impressive upper movement of 6.32% was showcased by the prices price.

Technical analysis suggests the stock price may see a surge in the near future.

Market experts also are also bullish on SLB Stock and suggest holding on to the stock in order to gain significant profits. The annual price target of the stock is $64.82 which is around 33.40% higher than the current trading prices.

In the 52-week trading session, SLB stock’s highest traded price was $59.45, and the lowest traded price was $30.65. Intraday, the lowest trading price of the stock was $47.66 while the highest was $48.91.

Schlumberger NV (NYSE: SLB) Earnings & Revenue

In Q1 2023, Schlumberger NV reported 3.98% more revenue than the estimated figures. As per estimations, the company was expected to report $7.44 billion but it surpassed these figures and reported $7.74 Billion.

Since Q2 2022, Schlumberger NV has been reporting positive revenue. The estimated revenue for the second quarter is $8.21 Billion and the estimated figure for the third quarter is $8.44 billion.

SLB Earnings Per Share (EPS) reflected a surge of 4.62% in Q1 2023. The reported revenue of Q1 2023 constitutes $934.00 Million net income and 12.08% of profit margin. The market capitalization of Schlumberger NV is $69.086 Billion.

According to TradingView, 1.422 Billion SLB shares are free-floating and 3.324 Million shares are closely held either by financial backers of the company or the boards of directors.

The revenue to profit conversion of Schlumberger NV constitutes 19% of gross profit, 22% Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA), 16% Earnings Before Interest and Taxes (EBIT), and 12% net income. The majority of the company’s revenue is generated from well construction, production systems, reservoir performance, and digital integration.

The major operating regions of the company are Middle East and Asia, Europe, North America, United States, and Latin America.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing