Investors Are Bailing Out of Schlumberger (SLB). Here's Why.

Schlumberger stock is trading -19.17% below its average target price of $63.93 after dropping -3.7% during today's afternoon session. Analysts are giving the large-cap Oil & Gas Equipment & Services company an average rating of buy and target prices ranging from $56.07 to $74.46 per share.

The stock has a very low short interest at 1.4%, and a short ratio of 2.51. 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
2023-09-30 Vanguard Group Inc 9% 130,528,372 $6,745,053,523
2023-09-30 Blackrock Inc. 7% 105,720,852 $5,463,124,946
2023-09-30 State Street Corporation 6% 79,314,536 $4,098,578,587
2023-09-30 Price (T.Rowe) Associates Inc 5% 66,761,877 $3,449,919,943
2023-09-30 Capital World Investors 4% 50,483,785 $2,608,749,551
2023-09-30 GQG Partners LLC 3% 35,978,766 $1,859,202,705
2023-09-30 Wellington Management Group, LLP 2% 31,641,353 $1,635,066,892
2023-09-30 FMR, LLC 2% 27,171,516 $1,404,088,068
2023-09-30 First Eagle Investment Management, LLC 2% 26,897,010 $1,389,902,971
2023-09-30 Geode Capital Management, LLC 2% 26,387,370 $1,363,567,324

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.