In yesterday’s Wall Street session, Schlumberger Ltd. (NYSE:SLB) shares traded at $49.05, down -0.79% from the previous session.
SLB stock price is now 5.56% away from the 50-day moving average and -3.19% away from the 200-day moving average. The market capitalization of the company currently stands at $70.11B.
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With the price target enhanced from $62 to $64, TD Cowen maintained Buy rating for Schlumberger Ltd. (NYSE: SLB). On April 29, 2024, Wells Fargo Downgraded its previous ‘Overweight’ rating to ‘Equal Weight’ on the stock reducing its target price from $68 to quote $53, while ‘TD Cowen’ rates the stock as ‘Buy’
In other news, Al Mogharbel Khaled, EVP, Geographies sold 120,668 shares of the company’s stock on Jul 22 ’24. The stock was sold for $6,056,484 at an average price of $50.19. Upon completion of the transaction, the EVP, Geographies now directly owns 247,699 shares in the company, valued at $12.15 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 22 ’24, EVP & CFO Biguet Stephane sold 50,048 shares of the business’s stock. A total of $2,499,397 was realized by selling the stock at an average price of $49.94. This leaves the insider owning 203,076 shares of the company worth $9.96 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 $42.61 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 1.49, and a quick ratio of 1.13. According to the stock market information, the enterprise value for the company is $78836998144, which is based on a 16.05 price-to-earnings ratio, a 0.76 price-to-earnings-growth ratio, and a beta of 1.57. The fifty day moving average price for SLB is $46.4774 and a two-hundred day moving average price translates $50.6316 for the stock.
The latest earnings results from Schlumberger Ltd. (NYSE: SLB) was released for 2024-06-30. The net profit margin was 12.56% and return on equity was 21.60% 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.
