Stocks of Schlumberger Ltd (NYSE:SLB) traded higher last session on Wall Street, up 1.41% to $40.32.
SLB stock price is now -4.84% away from the 50-day moving average and -14.09% away from the 200-day moving average. The market capitalization of the company currently stands at $56.50B.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
With the price target reduced from $68 to $65, TD Cowen maintained Buy rating for Schlumberger Ltd (NYSE: SLB). On July 22, 2024, TD Cowen reiterated its ‘Buy’ rating on the stock by increasing its target price from $62 to quote $64, while ‘Wells Fargo’ rates the stock as ‘Equal Weight’
In other news, Merad Abdellah, EVP, Core Services & Equipment sold 60,000 shares of the company’s stock on Oct 24 ’24. The stock was sold for $2,514,000 at an average price of $41.90. Upon completion of the transaction, the EVP, Core Services & Equipment now directly owns 211,937 shares in the company, valued at $8.55 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 24 ’24, Officer Merad Abdellah bought 60,000 shares of the business’s stock. A total of $2,514,000 was incurred on buying the stock at an average price of $41.90. A total of 0.19% of the company’s stock is owned by insiders.
During the past 12 months, Schlumberger Ltd has had a low of $38.66 and a high of $57.75. As of last week, the company has a debt-to-equity ratio of 0.60, a current ratio of 1.48, and a quick ratio of 1.12. According to the stock market information, the enterprise value for the company is $66669060096, which is based on a 12.98 price-to-earnings ratio, a 1.30 price-to-earnings-growth ratio, and a beta of 1.52. The fifty day moving average price for SLB is $42.466 and a two-hundred day moving average price translates $46.97745 for the stock.
The latest earnings results from Schlumberger Ltd (NYSE: SLB) was released for 2024-09-30. The net profit margin was 12.44% and return on equity was 21.90% for SLB. The company reported revenue of $9.16 billion for the quarter, compared to $8.31 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 10.22 percent.
