Figma Shares Indicated To Open $105/$110
Schlumberger Limited (NYSE:SLB), a leading provider in the oilfield services sector, has seen its stock price touch a 52-week low, reaching $38.63. According to InvestingPro data, the company maintains strong fundamentals with a perfect Piotroski Score of 9 and healthy revenue growth of 12.4% over the last twelve months. This downturn reflects a significant retreat from more favorable market positions in the past year, with the company's stock experiencing a 1-year change of -26.52%. Despite current market challenges, the company trades at a modest P/E ratio of 12.34 and has maintained dividend payments for 54 consecutive years. The decline to this year's low point underscores the volatility and challenges faced within the energy sector, influenced by fluctuating oil prices, regulatory pressures, and shifting demand dynamics. Investors and industry analysts are closely monitoring Schlumberger's strategic moves and financial health as the company navigates through these complex market conditions. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which covers over 1,400 US stocks.
In other recent news, Schlumberger Limited (SLB) has been the subject of multiple analyst revisions following its third-quarter earnings report. Citi has revised its price target for SLB to $50.00, maintaining a Buy rating, due to concerns over a slowdown in capital expenditures. TD Cowen also lowered its price target to $65.00, sustaining a Buy rating, while Susquehanna reduced its target to $56, keeping a positive rating. Stifel trimmed its price target to $60, maintaining a Buy rating as well.
These revisions come in the wake of SLB's third-quarter earnings report, which showed revenues of $9.2 billion and an adjusted EBITDA margin of 25.6%. The company also repurchased over $500 million worth of shares in the third quarter, reflecting its commitment to shareholder returns.
Additionally, SLB has secured a contract from bp for the supply of a subsea boosting system for the deepwater Kaskida project in the U.S. Gulf of Mexico. This marks the first engineering, procurement, and construction agreement between SLB's OneSubsea joint venture and bp.
Recent developments also include SLB's anticipated sale of the Palliser property in Canada, which is expected to help the company exceed its return targets, with projections now set to surpass the $3.0 billion mark in 2024 and its $4.0 billion target in 2025. These are among the recent developments surrounding SLB.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.