Schlumberger in 2019

Schlumberger (SLB) has risen 31% so far in 2019. The stock has outperformed peers Halliburton (HAL), National Oilwell Varco (NOV), and Baker Hughes (BHGE) year-to-date. These stocks are up 19%, 6%, and 20%, respectively, in 2019. Schlumberger is trading above its 50-day moving average but below its 200-day moving average. The stock is finding resistance around its 50-day average levels. If SLB sustains above this level, it may signal further strength in the stock.

Schlumberger Is Up 31% in 2019: Can It Maintain Momentum?

Ready to put your morning scrolling to use? Sign up for Bagels & Stox, our witty take on the top market and investment news straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

Valuation

Schlumberger is trading at a forward PE ratio of ~26.9, which is 11% lower than its five-year average forward PE. However, the ratio is higher compared to its peers. The stock offers a yield of ~4.2%.

Analyst recommendations

Of the 35 Reuters-surveyed analysts covering Schlumberger, five rated it as a “strong buy,” 15 analysts rated it as a “buy,” and the remaining 15 rated it as a “hold.” The mean price target for Schlumberger is $53.5, which implies an upside potential of ~12% from its current price.

For the latest earnings coverage on energy stocks, refer to Market Realist’s Energy and Power page.

Latest articles

19 Jul

Afya's IPO Sees Strong Listing Gains

WRITTEN BY Mohit Oberoi, CFA

Afya (AFYA) listed on the Nasdaq Global Select Market on July 19. The company priced its IPO at $19 per share.

19 Jul

What to Watch For in Amazon's Q2 Earnings

WRITTEN BY Sanmit Amin

e-Commerce giant Amazon (AMZN) is scheduled to report its second-quarter earnings results after the closing bell on July 25.

19 Jul

Barrick Gold Reaches Deal to Buy Acacia Mining

WRITTEN BY Anuradha Garg

After a long standoff, Barrick Gold (GOLD) and Acacia Mining (ABGLF) have reached an agreement.

19 Jul

Comcast Shares Pop on Goldman's Optimism

WRITTEN BY Ruchi Gupta

Comcast (CMCSA) shares popped after Goldman Sachs issued a positive note on the company recently. Goldman upgraded its rating for Comcast to "buy" from "hold."

19 Jul

Why Analysts Are Bearish on Netflix Stock

WRITTEN BY Aditya Raghunath

Netflix stock fell over 10.0% on Thursday and is down 0.5% today as well.

On Thursday, pet retailer Chewy (CHWY) reported its first-quarter results after the market closed. The company reported its earnings for the first time.