Schlumberger NV is also popularly known as SLB and Schlumberger Limited. It is an oilfield services company. It is one of the largest offshore drilling and offshore contractor companies by revenue. Schlumberger is incorporated in the Netherlands, Antilles. The company’s stock trades in various trading exchanges such as the New York Stock Exchange, the London Stock Exchange, and the SIX Swiss Exchange. In 2022, the company was ranked 349th largest company in the world among the Forbes Global 2000.
The dividend yield by Schlumberger for the year 2022 is 1.22% and the company has an EPS of 2.77 USD which means that the SLB makes $2.77 on each share. The SLB share follows a beta of 1.17 which means that Schlumberger’s stock relatively moves equal to or higher than the whole market and its returns may vary with the same frequency.
The current ROE of the Schlumberger NV is 21.64 following a neutral ROA of 8.79% and the current PE ratio of the company is 20.29. The following ratios represent that the company is at a strong position and the investors are ready to pay higher prices for the stock. Also, the current market cap of the company is $78.734B trading with an average volume of 9.18M followed by the last 3 months.
Schlumberger N.V. Stock Performance Analysis
Following the previous year, Schlumberger has shown a good advance in the revenue of the company resulting in $28.18B. The net income of the company has also advanced from $1.88B in the year 2021 to $3.44B in the year ending 2022. SLB has a profit margin of 12.21% for the same year. Schlumberger also has managed to reduce its debt over the years. It has reported a debt of $11.34B in Q2 2023 following a decline of -12.4% year-on-year.
Price Targets for SLB Stock
Based upon Tradingview’s experts, 30 analysts have given a stock rating of buy for SLB stock. This is followed up with reliable fundamentals and the meeting estimates of revenue and EPS of the company. Experts are aiming for a maximum target of $77.00 in SLB share and the minimum expected target is $62.00.
SLB Stock Technical Analysis
The SLB share price has been trading in an uptrend for a long time. This is because the SLB stock is following a rising wedge pattern on the weekly timeframe. Currently, the share is making bearish candlesticks in the same timeframe witnessing the presence of sellers.
As the share price of the stock was consistently advancing to a higher level, the EMAs were trading in a golden cross. SLB stock price is also currently trading above the 50-day and the 200-day EMA.
The RSI for the SLB share is following a bullish cycle. It is currently trading above the 50 level. Following the bullish cycle, the RSI has declined below the 14-day SMA. This indicates mild bearishness in the stock price.
Conclusion
Schlumberger N.V. is a relaible company. It has stable finances and also gives dividends to its shareholders. Despite good fundamentals, the company’s stock price is trading negatively. It is following bearish price action making declining candlesticks. The RSI and the EMA are still indicating bullishness. As the SLB share price is trading inside a rising wedge pattern, it can decline up to the lower band of the channel. If the stock price further breaks below the channel pattern, SLB can witness further decline or it may continue to advance again.
Technical Levels
- Support levels- $30.00 and $44.00
- Resistance levels- $62.00 and $75.00
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
Source: https://www.thecoinrepublic.com/2023/10/07/schlumberger-announced-to-close-its-joint-venture-whats-next/