In yesterday’s Wall Street session, Schlumberger Ltd. (NYSE:SLB) shares traded at $44.07, down -3.97% from the previous session.
SLB stock price is now -12.30% away from the 50-day moving average and -16.73% away from the 200-day moving average. The market capitalization of the company currently stands at $62.99B.
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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, Rennick Gavin, President New Energy sold 38,083 shares of the company’s stock on May 22 ’24. The stock was sold for $1,838,647 at an average price of $48.28. Upon completion of the transaction, the President New Energy now directly owns 45,851 shares in the company, valued at $2.02 million. An SEC document containing details of the transaction can be found on the SEC’s website. On May 14 ’24, Chief Technology Officer Pafitis Demosthenis sold 63,095 shares of the business’s stock. A total of $3,044,965 was realized by selling the stock at an average price of $48.26. This leaves the insider owning 33,421 shares of the company worth $1.47 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 $42.90 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. According to the stock market information, the enterprise value for the company is $75567308800, which is based on a 14.68 price-to-earnings ratio, a 0.70 price-to-earnings-growth ratio, and a beta of 1.58. The fifty day moving average price for SLB is $50.0414 and a two-hundred day moving average price translates $52.8526 for the stock.
The latest earnings results from Schlumberger Ltd. (NYSE: SLB) was released for 2024-03-31. 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.
