#5 - Schlumberger (NYSE:SLB)
Schlumberger (NYSE: SLB) - This oil stock is a technical analyst’s dream. The last time the crude oil market took a tumble down all the way down to $27 per barrel, Schlumberger’s stock hit a low of $65 per share. The current crude oil correction has prices at around $50, nearly double their low point in 2016, but Schlumberger’s stock has fallen to $48 per share. That 25% decline from its 2016 levels seems like a hefty discount for a company that hasn’t lost its industry leadership position and continues to pay a dividend despite the drop in crude prices over the last few years. Schlumberger appears to be a company caught up in the overall selloff taking place with crude stocks. The oil industry will rebound. The question is when. That’s hard to tell. What’s easy to forecast is that SLB will still be a leader and may even benefit from weaker companies that may become insolvent as the oil crisis drags on.
About Schlumberger
Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.
Read More - Current Price
- $44.44
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 16 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $69.06 (55.4% Upside)
