Stocks of Schlumberger Ltd. (NYSE:SLB) traded higher last session on Wall Street, up 0.44% to $48.17.
SLB stock price is now -6.46% away from the 50-day moving average and -10.58% away from the 200-day moving average. The market capitalization of the company currently stands at $68.85B.
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With the price target reduced from $68 to $53, Wells Fargo Downgraded its rating from Overweight to Equal Weight for Schlumberger Ltd. (NYSE: SLB). On April 22, 2024, TD Cowen reiterated its ‘Buy’ rating on the stock by increasing its target price from $64 to quote $63, while ‘Societe Generale’ rates the stock as ‘Buy’
In other news, Merad Abdellah, EVP, Core Services & Equipment sold 50,000 shares of the company’s stock on Feb 26 ’24. The stock was sold for $2,426,000 at an average price of $48.52. Upon completion of the transaction, the EVP, Core Services & Equipment now directly owns 261,507 shares in the company, valued at $12.6 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 26 ’24, EVP & CFO Biguet Stephane sold 6,250 shares of the business’s stock. A total of $304,000 was realized by selling the stock at an average price of $48.64. This leaves the insider owning 242,932 shares of the company worth $11.7 million. A total of 0.21% of the company’s stock is owned by insiders.
During the past 12 months, Schlumberger Ltd. has had a low of $42.73 and a high of $62.12. As of last week, the company has a debt-to-equity ratio of 0.59, a current ratio of 1.37, and a quick ratio of 1.02.
The net profit margin was 12.72% and return on equity was 22.35% for SLB. The company reported revenue of $8.71 billion for the quarter, compared to $7.74 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 12.55 percent.
