Schlumberger (SLB) Surges – Here's Why

After this morning's 1.4% surge to $61.45 per share, Schlumberger might just keep moving past its target price of $61.76. With an average analyst rating of buy, and target prices from $45.57 to $71.61, the stock's next move is anyone's guess.

The stock has a very low short interest at 1.4%, and a short ratio of 2.24. The company's insiders own 0.2% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 83.4% of Schlumberger's shares being owned by this investor type.

Institutions Invested in Schlumberger

Date Reported Holder Percentage Shares Value
2023-06-30 Vanguard Group Inc 9% 129,115,551 $7,934,150,707
2023-06-30 Blackrock Inc. 8% 106,818,561 $6,564,000,654
2023-06-30 State Street Corporation 6% 83,794,992 $5,149,202,322
2023-06-30 Capital World Investors 3% 43,080,354 $2,647,287,786
2023-06-30 Wellington Management Group, LLP 2% 34,276,831 $2,106,311,291
2023-06-30 GQG Partners LLC 2% 33,593,558 $2,064,324,164
2023-06-30 First Eagle Investment Management, LLC 2% 27,291,718 $1,677,076,091
2023-06-30 FMR, LLC 2% 26,888,807 $1,652,317,210
2023-06-30 Geode Capital Management, LLC 2% 25,983,683 $1,596,697,340
2023-06-30 Price (T.Rowe) Associates Inc 2% 23,937,391 $1,470,952,695

Besides an analyst consensus of some upside potential, other market factors point to there being mixed market sentiment on Schlumberger.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.