Why did SLB stock drop? (2024)

Why did SLB stock drop?

Jan 30 (Reuters) - Shares of top oilfield services provider SLB (SLB. N) , opens new tab tumbled nearly 10% and weighed on the benchmark S&P 500 index on Tuesday while its U.S. rivals fell after Saudi Aramco's (2222.SE) , opens new tab move to lower its maximum capacity target fanned demand worries.

Why did Schlumberger stock drop?

Shares of Schlumberger and other oilfield-service providers fell after Saudi Arabian Oil Co., known as Aramco, said the Saudi government ordered it not to ramp up its oil production capacity.

Will Schlumberger stock recover?

SLB Stock 12 Month Forecast

Based on 10 Wall Street analysts offering 12 month price targets for Schlumberger in the last 3 months. The average price target is $67.00 with a high forecast of $77.00 and a low forecast of $52.00. The average price target represents a 22.24% change from the last price of $54.81.

What is the outlook for SLB?

Stock Price Forecast

The 15 analysts with 12-month price forecasts for Schlumberger stock have an average target of 70.07, with a low estimate of 62 and a high estimate of 81. The average target predicts an increase of 40.56% from the current stock price of 49.85.

Is Schlumberger undervalued?

Share Price vs Fair Value

Significantly Below Fair Value: SLB is trading below fair value by more than 20%.

Did Schlumberger stock split?

Schlumberger stock (symbol: SLB) underwent a total of 2 stock splits.

Is Schlumberger profitable?

Schlumberger annual net income for 2023 was $4.203B, a 22.14% increase from 2022. Schlumberger annual net income for 2022 was $3.441B, a 82.93% increase from 2021. Schlumberger annual net income for 2021 was $1.881B, a 117.88% decline from 2020.

Is Schlumberger a buy sell or hold?

Schlumberger has received a consensus rating of Buy. The company's average rating score is 3.00, and is based on 16 buy ratings, no hold ratings, and no sell ratings.

What is the fair value of Schlumberger stock?

As of 2024-04-12, the Fair Value of Schlumberger NV (SLB) is 14.66 USD. This value is based on the Peter Lynch's Fair Value formula. With the current market price of 54 USD, the upside of Schlumberger NV is -72.8%.

What is the 5 year forecast for SLB?

Schlumberger Ltd. quote is equal to 51.410 USD at 2024-04-16. Based on our forecasts, a long-term increase is expected, the "SLB" stock price prognosis for 2029-04-11 is 104.387 USD. With a 5-year investment, the revenue is expected to be around +103.05%.

Who owns Schlumberger stock?

Schlumberger is not owned by hedge funds. Our data shows that The Vanguard Group, Inc. is the largest shareholder with 8.5% of shares outstanding. With 7.9% and 6.5% of the shares outstanding respectively, BlackRock, Inc. and State Street Global Advisors, Inc.

Who are the major shareholders of SLB?

Largest shareholders include Vanguard Group Inc, BlackRock Inc., State Street Corp, Price T Rowe Associates Inc /md/, Capital World Investors, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, VFINX - Vanguard 500 Index Fund Investor Shares, XLE - The Energy Select Sector SPDR Fund, GQG Partners LLC, and ...

What is the SLB forecast for 2024?

On average, 10 Wall Street analysts forecast SLB's revenue for 2024 to be $53,256,101,592,330, with the lowest SLB revenue forecast at $52,515,426,408,297, and the highest SLB revenue forecast at $54,278,116,299,918.

What is the most undervalued oil stock?

In addition to Chevron Corporation (NYSE:CVX), Exxon Mobil Corporation (NYSE:XOM), and Chesapeake Energy Corporation (NASDAQ:CHK), Marathon Petroleum Corporation (NYSE:MPC) is an undervalued stock investors should pay attention to.

Is Schlumberger a good company?

Schlumberger is a great place to work not only because it has an amazing culture and environment, but also the people shape the company culture rather than by management. Employees are encouraged to climb higher and get promoted at the company.

What is the most undervalued stock?

How often does SLB pay dividends?

SLB's quarterly dividend announcement is included in its quarterly results press releases.

How often does Schlumberger pay dividends?

Schlumberger Limited ( SLB ) pays dividends on a quarterly basis. Schlumberger Limited ( SLB ) has increased its dividends for 3 consecutive years. This is a positive sign of the company's financial stability and its ability to pay consistent dividends in the future.

Why did Schlumberger change to SLB?

The business, which started in France as the Electric Prospecting Company and then Schlumberger, created its SLB name last year to signal a refocus on newer energy services, such as carbon-capture technology and the development of hydrogen, geothermal energy and geo-energy.

What company bought out Schlumberger?

Liberty Oilfield Services Inc. on Monday closed on its purchase of a competitor in a $448 million deal that makes the company the third-largest North American hydraulic fracturing business. Denver-based Liberty Oilfield (NYSE: LBRT) acquired the OneStim division of Houston-based oilfield giant Schlumberger Ltd.

What is the highest salary in Schlumberger?

The highest-paying job at Schlumberger is a DevOps Manager with a salary of ₹55.7 Lakhs per year. The top 10% of employees earn more than ₹33 lakhs per year. The top 1% earn more than a whopping ₹69.96 lakhs per year.

What is Schlumberger famous for?

Schlumberger supplies the petroleum industry with services such as seismic data processing, formation evaluation, well testing and directional drilling, well cementing and stimulation, artificial lift, well completions, flow assurance and consulting, and software and information management.

Did Liberty buy Schlumberger?

Schlumberger sold its U.S. fracking unit to Liberty Oilfield Services in exchange for a 37% stake in the buyer valued at $448 million. In exchange, Schlumberger gets a 37% stake in Denver-based Liberty, valued at $448 million.

Should I buy SLB stock?

Schlumberger stock has received a consensus rating of buy. The average rating score is and is based on 61 buy ratings, 0 hold ratings, and 0 sell ratings.

When did Liberty buy Schlumberger?

(NYSE: LBRT) and Schlumberger (NYSE: SLB) announced today the completion of the contribution of Schlumberger's onshore hydraulic fracturing business in the United States and Canada (“OneStim®”) to Liberty on December 31, 2020, including its pressure pumping, pumpdown perforating, and Permian frac sand businesses, in ...