It Seems Schlumberger Limited (SLB) Will Go Down. Formed A Few Months Bearish Wedge Down Chart Pattern

December 7, 2017 - By Marry Poplack

Investors sentiment decreased to 0.88 in 2017 Q2. Its down 0.29, from 1.17 in 2017Q1. It worsened, 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.
Systematic Mngmt Ltd Partnership holds 0.01% or 8,300 shares in its portfolio. Adage Ptnrs Group Inc Ltd Liability owns 1.69 million shares. Halsey Associate Incorporated Ct reported 9,450 shares or 0.13% of all its holdings. Outfitter Advsrs Ltd holds 19,089 shares. First Allied Advisory Inc owns 31,864 shares or 0.09% of their US portfolio. M reported 8,264 shares. Cullinan Associates Inc holds 0.48% or 92,750 shares. Edinburgh Prtn owns 666 shares. Shamrock Asset Mngmt Limited Liability has 0.32% invested in Schlumberger Limited (NYSE:SLB). Pitcairn holds 0.1% of its portfolio in Schlumberger Limited (NYSE:SLB) for 12,493 shares. Horizon Kinetics accumulated 14,280 shares. Markston Intll Llc reported 87,196 shares or 0.56% of all its holdings. Norinchukin Bank & Trust The invested in 167,909 shares or 0.23% of the stock. Mirae Asset Glob Invests Communications Limited reported 8,835 shares or 0.01% of all its holdings. Natixis Asset Mgmt has invested 0.11% of its portfolio in Schlumberger Limited (NYSE:SLB).

Since June 12, 2017, it had 0 insider 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 EPS, up 66.67 % or $0.18 from last year’s $0.27 per share. SLB’s profit will be $623.37 million for 34.48 P/E if the $0.45 EPS becomes a reality. After $0.42 actual EPS 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. The stock of Schlumberger Limited (NYSE:SLB) has “Equal-Weight” rating given on Wednesday, June 21 by Barclays Capital. Nomura maintained the stock with “Buy” rating in Monday, April 25 report. The rating was maintained by RBC Capital Markets with “Buy” on Friday, September 1. The rating was maintained by Morgan Stanley on Tuesday, April 19 with “Overweight”. The firm has “Outperform” rating given on Friday, September 4 by BMO Capital Markets. The firm earned “Outperform” rating on Monday, October 19 by Oppenheimer. Barclays Capital maintained the shares of SLB in report on Monday, January 25 with “Equal Weight” rating. The rating was maintained by Citigroup on Wednesday, October 21 with “Buy”. Macquarie Research maintained the shares of SLB in report on Wednesday, September 9 with “Neutral” rating. The firm earned “Buy” rating on Friday, March 24 by Tudor Pickering.

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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