Schlumberger (SLB) Flat As Market Sinks: What You Should Know

This story originally appeared on Zacks

Schlumberger (SLB) closed at $33.26 in the latest trading session, indicating no change from the day before. That change was narrower than the S&P 500’s loss of 1.94% today. Elsewhere, the Dow Jones lost 1.07%, while the Nasdaq Tech Index lost 0.39%.

– Zacks

Ahead of today’s trading, shares of the world’s largest oilfield services company are up 8.13% over the past month. This outpaced the oil and energy sector’s gain of 5.65% and the S&P 500’s gain of 5.72% in that time.

Schlumberger will look to show strength as it nears its next earnings release, which is expected to be January 21, 2022. In this report, analysts expect Schlumberger to report earnings of $0.39 per share. This would represent an annual growth of 77.27%. Meanwhile, our latest consensus estimate calls for revenue of $6.09 billion, up 10.02% from the prior year quarter.

Any recent changes to Schlumberger’s analyst estimates should also be noted by investors. These recent reviews tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive rating reviews as a good sign of the company’s business outlook.

Our research shows that these discretionary changes are directly correlated with near-term stock prices. To take advantage of this, we have developed Zacks Rank, a proprietary model that takes these discretionary changes into account and provides an actionable ranking system.

The Zacks Rank system ranges from #1 (strong buy) to #5 (strong sell). The company has a successful and externally audited track record, with the No. 1 stock generating an average annual return of over 25% since 1988. In the past 30 days, our EPS-compliant forecast has remained stagnant. Schlumberger currently has a Zacks rating of 2 (Buy).

Investors should also note Schlumberger’s current valuation metrics, including the forward price-to-earnings ratio of 17.52. This valuation represents a discount compared to the industry’s forward P/E average of 26.73.

Oil and Gas – The field service industry is part of the oil and energy sector. The industry currently has a Zacks Industry Rating of 94, placing it in the top 37% of all 250+ industries.

The Zacks Industry Ranking measures the strength of our individual industry groups by measuring the average Zacks rating of the individual stocks within the groups. Our research shows that industries ranked 50% outperform the bottom half by a factor of 2 to 1.

You can find more information about all of these metrics and more at Zacks.com.

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