Schlumberger N.V. (SLB) Monthly Stock Report
Publication Date: September 22, 2024
Company Overview
Schlumberger N.V. (SLB), headquartered in Houston, Texas, is a prominent player in the energy sector, particularly within the oil and gas equipment and services industry. Founded in 1926, Schlumberger specializes in delivering innovative technologies and comprehensive services across four core divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company’s extensive range of offerings includes field development, carbon management, reservoir interpretation, and well construction solutions, bolstering its status as a key contributor to the global oil and gas landscape.
Market Outlook
The Oil & Gas Equipment & Services industry is poised for significant growth, backed by strong financial projections and a favorable buy recommendation from analysts. Current estimates suggest a target high share price of $74.00, reflecting a bullish outlook for companies in this sector. Schlumberger’s total revenue in 2023 reached approximately $35.15 billion, demonstrating robust demand and indicating a positive growth trajectory. The company maintains 1.42 billion shares outstanding, with a modest short interest of approximately 2.75%. This relatively low figure signifies that investor sentiment toward Schlumberger remains largely optimistic, suggesting confidence in the company’s future performance amidst an evolving energy landscape.
Stock Performance and Analyst Recommendations
As of the latest data, Schlumberger’s stock trades at $42.41, which is below the fifty-two week high of $61.41 and above the low of $38.66, indicating a degree of volatility over the past year. Analysts’ target price forecasts range from a low of $53.00 to a high of $74.00, with a mean target price of $64.55. With a recommendation mean standing at 1.8 based on insights from 27 analysts, the consensus firmly advises buying the stock. Investors should also consider the fifty-day moving average of $44.53, as trading below this level may hint at potential price corrections. Overall, Schlumberger’s strong financial health and favorable market outlook present attractive investment opportunities for stakeholders in the oil and gas sector.
| Metric | Value |
|---|---|
| Market Cap | $60.2b |
| Total Debt | $13.4b |
| Total Cash | $4.0b |
| Shares Outstanding | 1.4b |
| Float Shares | 1.4b |
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