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What’s the Market Saying about Schlumberger as of September 22?

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Part 2
What’s the Market Saying about Schlumberger as of September 22? PART 2 OF 3

What’s Schlumberger’s Next 7-Day Stock Price Forecast?

Schlumberger’s implied volatility

On September 22, 2017, Schlumberger’s (SLB) implied volatility was 18.4%. Since its 2Q17 financial results were announced on July 21, 2017, its implied volatility has fallen from 19.0% to the current level. During the same period, SLB stock has risen 3.0%. SLB makes up 3.1% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES). XES has fallen 8.0% in the past year compared to a 9.0% fall in SLB stock for the same period. Implied volatility signals a stock’s potential price movement as viewed by the option holders.

What’s Schlumberger’s Next 7-Day Stock Price Forecast?

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Schlumberger’s 7-day stock price forecast

Schlumberger stock will likely close between $70.56 and $67.04 in the next seven days, based on its implied volatility. Its seven-day stock price forecast considers a normal distribution of stock prices and one standard deviation probability of 68.2%. SLB stock was trading at $68.80 on September 22, 2017.

Implied volatility for SLB’s peers

National Oilwell Varco’s (NOV) implied volatility on September 22, 2017, was ~24.6%, which implies that NOV stock could vary between $35.54 and $34.33 in the next seven days. Helmerich & Payne’s (HP) implied volatility was 27.8% that same day. That implies that HP stock could range between $52.97 and $49.05 in the next seven days. Carbo Ceramics’ (CRR) implied volatility was ~63.0% on September 22, 2017. That implies that CRR stock could vary between $8.89 and $7.47 in the next seven days. You can read oilfield services companies’ free cash flow comparisons in Market Realist’s Oilfield Services Stocks: Free Cash Flow Winners and Losers.

Crude oil’s implied volatility

On September 22, 2017, crude oil’s implied volatility was 24.2%. Since July 21, 2017, crude oil’s volatility has fallen. SLB’s implied volatility has also contracted during that period. Since July 21, 2017, the S&P 500 Index (SPX-INDEX) has risen 1.0%. The energy sector makes up 5.7% of the SPX-INDEX.

Next, let’s look at crude oil’s correlation with SLB.

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