Fintel reports that on July 24, 2023, Benchmark reiterated coverage of SLB (NYSE:SLB) with a Buy recommendation.
Analyst Price Forecast Suggests 17.53% Upside
As of July 6, 2023, the average one-year price target for SLB is 65.83. The forecasts range from a low of 49.49 to a high of $78.75. The average price target represents an increase of 17.53% from its latest reported closing price of 56.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for SLB is 32,916MM, an increase of 5.53%. The projected annual non-GAAP EPS is 3.02.
- For more in-depth coverage of SLB, view the free, crowd-sourced company research report on Finpedia.
What is the Fund Sentiment?
There are 2497 funds or institutions reporting positions in SLB. This is an increase of 42 owner(s) or 1.71% in the last quarter. Average portfolio weight of all funds dedicated to SLB is 0.53%, a decrease of 5.49%. Total shares owned by institutions increased in the last three months by 2.25% to 1,384,813K shares. 
The put/call ratio of SLB is 0.92, indicating a bullish outlook.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 44,211K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 43,096K shares, representing an increase of 2.52%. The firm decreased its portfolio allocation in SLB by 13.00% over the last quarter.
Wellington Management Group Llp holds 38,159K shares representing 2.68% ownership of the company. In it's prior filing, the firm reported owning 37,011K shares, representing an increase of 3.01%. The firm decreased its portfolio allocation in SLB by 86.79% over the last quarter.
Ofi Invest Asset Management holds 36,458K shares representing 2.56% ownership of the company.
VFINX - Vanguard 500 Index Fund Investor Shares holds 33,139K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 32,780K shares, representing an increase of 1.08%. The firm decreased its portfolio allocation in SLB by 13.89% over the last quarter.
XLE - The Energy Select Sector SPDR Fund holds 33,046K shares representing 2.32% ownership of the company. In it's prior filing, the firm reported owning 36,551K shares, representing a decrease of 10.61%. The firm decreased its portfolio allocation in SLB by 10.71% over the last quarter.
SLB Background Information
(This description is provided by the company.)
Schlumberger is the world's leading provider of technology and digital solutions for reservoir characterization, drilling, production, and processing to the energy industry. With product sales and services in more than 120 countries and employing approximately 82,000 people as of the end of third quarter of 2020 who represent over 170 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance sustainably. Schlumberger Limited has executive offices in Paris, Houston, London, and The Hague, and reported revenues of $32.92 billion in 2019.
Additional reading:
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- BOFA SECURITIES, INC. DEUTSCHE BANK SECURITIES INC. MUFG SECURITIES AMERICAS INC. SCHLUMBERGER INVESTMENT SA $500,000,000 4.500% Senior Notes due 2028 $500,000,000 4.850% Senior Notes due 2033 guaranteed by SCHLUMBERGER LIMITED Underwriting Agreement
- Schlumberger Investment S.A. 4.500% Senior Notes due 2028 4.850% Senior Notes due 2033 Irrevocably and Unconditionally Guaranteed by Schlumberger Limited THIRD SUPPLEMENTAL INDENTURE Dated as of May 15, 2023 The Bank of New York Mellon, as Trustee, R
- Power of Attorney
- FORM T-1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
This story originally appeared on Fintel.
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