Why is Schlumberger stock rising? (2024)

Why is Schlumberger stock rising?

Summary. Schlumberger is well-positioned for the next oil megatrend with offshore and deepwater production driving growth. SLB generated exceptionally strong free cash flow growth in FY23; I anticipate growth to continue in eFY24, driven by offshore, new energy, and digital technology.

Is Schlumberger a good stock to buy now?

The highest analyst price target is $77.00 ,the lowest forecast is $52.00. The average price target represents 22.24% Increase from the current price of $54.81. What do analysts say about Schlumberger Limited? Schlumberger Limited's analyst rating consensus is a Strong Buy.

Why is SLB stock up?

Oilfield firm SLB's profit rises on international drilling demand. HOUSTON (Reuters) -Top oilfield services firm SLB reported a 14% rise in first-quarter profit on Friday, in line with analysts' estimates, as higher oil and gas drilling demand in the Middle East and Africa helped offset weakness in North America.

Will Schlumberger stock recover?

Share price forecast in USD

The 29 analysts offering 12 month price targets for Schlumberger NV have a median target of 68.00, with a high estimate of 81.00 and a low estimate of 57.00. The median estimate represents a 36.41% increase from the last price of 49.85.

What is the future of SLB?

Future Growth

Schlumberger is forecast to grow earnings and revenue by 12.9% and 8.7% per annum respectively. EPS is expected to grow by 12.5% per annum. Return on equity is forecast to be 21.3% in 3 years.

Did Schlumberger stock split?

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

Is Schlumberger the biggest oil company?

Schlumberger NV (French: [ʃlumbɛʁʒe, ʃlœ̃b-]), doing business as SLB, also known as Schlumberger Limited, is an American oilfield services company. As of 2022, it is both the world's largest offshore drilling company and the world's largest offshore drilling contractor by revenue.

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%.

Is SLB undervalued?

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

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.

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.

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%.

Does SLB pay monthly 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.

How often does SLB pay dividends?

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

Is SLB a Fortune 500 company?

Schlumberger - SLB - Fortune Global 500 Top Companies.

What companies did Schlumberger buy?

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 stock is getting ready to split?

Who is bigger Halliburton vs Schlumberger?

They are the industry leaders. Schlumberger generated 28.4% more revenue than Halliburton in the third quarter of 2022. As we can see, Halliburton generated $2.635 billion in revenue from North America, or 49.2% of its total revenue in 3Q22, versus 20.6% for Schlumberger.

Is Schlumberger better than Halliburton?

Halliburton has a Zacks Rank of #2 (Buy), while Schlumberger has a Zacks Rank of #3 (Hold) right now. The Zacks Rank favors stocks that have recently seen positive revisions to their earnings estimates, so investors should rest assured that HAL has an improving earnings outlook.

What is the Schlumberger controversy?

On September 1, 2020, the firm filed an Amended Complaint, adding Jessica Cheatham as a plaintiff. The Complaint detailed the alleged gender discrimination, sexual harassment, hostile work environment, and retaliation that women like Ms. Cheatham and Ms.

Did Liberty buy 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.

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.

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 ...