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What’s the Market Saying about Schlumberger?

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Part 2
What’s the Market Saying about Schlumberger? PART 2 OF 3

Schlumberger’s Price Forecast for the Next 7 Days

Schlumberger’s implied volatility

On September 29, Schlumberger’s (SLB) implied volatility was 17.9%. Since its 2Q17 financial results were announced on July 21, Schlumberger’s implied volatility has fallen from 19% to its current level. During the same period, SLB’s stock price rose 5%. SLB is 3.1% of the SPDR S&P Oil & Gas Equipment & Services ETF (XES). XES rose 6% since July 21. Implied volatility (or IV) signals a stock’s potential price movement as viewed by option traders.

Schlumberger’s stock will likely close between $71.48 and $68.04 in the next seven days, based on its implied volatility. Schlumberger’s seven-day stock price forecast considers a normal distribution of stock prices and one standard deviation probability of 68.2%. SLB’s stock price was $69.76 on September 29.Schlumberger’s Price Forecast for the Next 7 Days

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Implied volatility for SLB’s peers         

Halliburton’s (HAL) implied volatility on September 29 was ~23.2%, which implies HAL’s stock price can vary between $47.51 and $44.55 in the next seven days. Helmerich & Payne’s (HP) implied volatility was 30.2% on the day, which implies that HP’s stock price can range between $54.29 and $49.93 in the next seven days. CARBO Ceramics’ (CRR) implied volatility was ~72% on September 29, which implies that CRR’s stock price can vary between $9.48 and $7.78 in the next seven days. Read oilfield services companies’ free cash flow comparison in Market Realist’s Oilfield Services Stocks: Free Cash Flow Winners and Losers.

Crude oil’s implied volatility

On September 29, crude oil’s implied volatility was 24.5%. Since July 21, crude oil’s volatility fell while SLB’s implied volatility also tapered off during the same period. Since July 21, 2017, the S&P 500 Index (SPX-INDEX) has risen 2%. The energy sector makes up 5.7% of SPX-INDEX.

Next, we’ll discuss SLB’s correlation with crude oil.

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