Schlumberger Limited’s Stock Price Soars to $47.48, Marking a Robust Increase of 3.99%

Schlumberger Limited (SLB)

47.48 USD +1.82 (+3.99%) Volume: 17.64M

Discover Schlumberger Limited’s stock price at 47.48 USD, showcasing an impressive trading session increase of +3.99%, with a robust trading volume of 17.64M. Despite a year-to-date decrease of -8.76%, SLB’s stock performance continues to attract investors.

Latest developments on Schlumberger Limited

Schlumberger Ltd has been making significant moves in the stock market recently, with various investment firms adjusting their positions in the company. Ballentine Partners LLC reduced its stock position, while Park Avenue Securities LLC boosted its stock holdings. Additionally, Gulf International Bank UK Ltd and NBC Securities Inc. increased their stakes in Schlumberger Ltd. The company’s profits have also seen a 47% increase, leading to a surge in share prices, touching new highs. In other news, Schlumberger Ltd has recently agreed with Iraq to drill wells in the Majnoon Oilfield, showcasing its continued growth and expansion in the industry.

Schlumberger Limited on Smartkarma

Analysts on Smartkarma are closely following Schlumberger Ltd, the world’s largest oilfield services company. Baptista Research highlights Schlumberger’s resilience and adaptability, showcasing strong financial results despite challenges in the energy market. The company reported robust revenue growth and increased margins, with a favorable outlook for 2024 and beyond. Baptista Research also aims to evaluate factors influencing the company’s price and conduct an independent valuation using a Discounted Cash Flow methodology.

Additionally, Suhas Reddy anticipates stunning earnings for Schlumberger in Q4 2023, driven by robust international market performance. Analyst consensus on the stock is bullish, with growth expected to be fueled by strong performance in international markets. Management forecasts revenue growth to exceed 15% YoY for 2023, with pretax operating margins in Q4 2023 expected to benefit from higher digital sales and seasonal product and equipment sales. The analyst consensus remains overwhelmingly bullish, emphasizing the expected strong growth in international and offshore segments.

A look at Schlumberger Limited Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, Schlumberger Ltd has a positive long-term outlook. With high scores in Dividend and Growth, the company is positioned well for future success in the oil services industry. Additionally, its Resilience and Momentum scores indicate a stable and steady performance in the market.

Schlumberger Ltd, an oil services company, is expected to continue its growth trajectory with a strong focus on dividends for investors. With a solid foundation in technology and project management, the company is well-equipped to provide essential services to the international petroleum industry. Its high scores in Growth and Dividend highlight its potential for long-term success and profitability.

Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
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