Can Schlumberger Limited (SLB)’s Tomorrow be Different? The Stock Formed a Wedge Down

December 7, 2017 - By Winifred Garcia

Investors sentiment decreased to 0.88 in Q2 2017. Its down 0.29, from 1.17 in 2017Q1. It turned negative, as 99 investors sold Schlumberger Limited shares while 590 reduced holdings. 91 funds opened positions while 513 raised stakes. 1.07 billion shares or 0.68% less from 1.08 billion shares in 2017Q1 were reported.
Barrett Asset Ltd Liability Corp invested in 1.93% or 386,507 shares. Foster Dykema Cabot And Ma invested 1.54% in Schlumberger Limited (NYSE:SLB). Barclays Public Ltd Co invested 0.1% of its portfolio in Schlumberger Limited (NYSE:SLB). Compass holds 0.03% or 3,223 shares. Moreover, Ig Inv Mgmt Limited has 0.34% invested in Schlumberger Limited (NYSE:SLB). Motley Fool Wealth Mgmt Ltd Liability reported 0.46% of its portfolio in Schlumberger Limited (NYSE:SLB). Ibm Retirement Fund holds 0.46% or 33,991 shares. Forbes J M & Llp reported 39,655 shares stake. Geode Cap Mngmt Ltd Liability Corp has invested 0.35% in Schlumberger Limited (NYSE:SLB). Amer Assets Inv Management Limited Liability Company reported 0.86% of its portfolio in Schlumberger Limited (NYSE:SLB). Moreover, Graybill Bartz And Assocs has 2.49% invested in Schlumberger Limited (NYSE:SLB). Wendell David Assocs reported 16,356 shares or 0.2% of all its holdings. 5,062 are owned by Sterneck Limited Liability Com. 40,453 are held by Bragg Fincl Advsrs. Hemenway Tru Limited Co has invested 1.48% of its portfolio in Schlumberger Limited (NYSE:SLB).

Since June 12, 2017, it had 0 buys, and 1 insider sale for $2.77 million activity.

The stock of Schlumberger Limited (SLB) formed a down wedge with $59.59 target or 4.00 % below today’s $62.07 share price. The 8 months wedge indicates high risk for the $85.98B company. If the $59.59 price target is reached, the company will be worth $3.44B less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

It closed at $62.07 lastly. It is down 3.30% since December 8, 2016 and is downtrending. It has underperformed by 20.00% the S&P500.

Analysts await Schlumberger Limited (NYSE:SLB) to report earnings on January, 19. They expect $0.45 earnings per share, up 66.67 % or $0.18 from last year’s $0.27 per share. SLB’s profit will be $623.37M for 34.48 P/E if the $0.45 EPS becomes a reality. After $0.42 actual earnings per share reported by Schlumberger Limited for the previous quarter, Wall Street now forecasts 7.14 % EPS growth.

Schlumberger Limited (NYSE:SLB) Ratings Coverage

Among 35 analysts covering Schlumberger Limited. (NYSE:SLB), 27 have Buy rating, 1 Sell and 7 Hold. Therefore 77% are positive. Schlumberger Limited. had 123 analyst reports since July 22, 2015 according to SRatingsIntel. Morgan Stanley maintained it with “Overweight” rating and $110 target in Monday, April 25 report. Barclays Capital upgraded Schlumberger Limited (NYSE:SLB) rating on Wednesday, April 20. Barclays Capital has “Overweight” rating and $93 target. The rating was maintained by RBC Capital Markets on Friday, September 1 with “Buy”. Jefferies maintained Schlumberger Limited (NYSE:SLB) rating on Friday, September 29. Jefferies has “Buy” rating and $80.0 target. The company was downgraded on Thursday, April 28 by Societe Generale. Goldman Sachs maintained Schlumberger Limited (NYSE:SLB) on Monday, April 4 with “Buy” rating. The firm earned “Buy” rating on Thursday, July 13 by BMO Capital Markets. Morgan Stanley maintained Schlumberger Limited (NYSE:SLB) on Monday, October 23 with “Overweight” rating. The stock of Schlumberger Limited (NYSE:SLB) earned “Overweight” rating by JP Morgan on Tuesday, September 12. Citigroup maintained Schlumberger Limited (NYSE:SLB) rating on Wednesday, October 21. Citigroup has “Buy” rating and $84 target.

More news for Schlumberger Limited (NYSE:SLB) were recently published by: Businesswire.com, which released: “Schlumberger Announces Fourth-Quarter and Full-Year 2017 Results Conference Call” on November 29, 2017. Seekingalpha.com‘s article titled: “Schlumberger: Breaking Down” and published on November 17, 2017 is yet another important article.

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