Schlumberger Limited (SLB) Could Burn Your Portfolio. The Stock Formed Bearish Wedge Down Chart Pattern

December 7, 2017 - By Vivian Park

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.
18,707 were reported by Patten Group. Meridian Management accumulated 0.96% or 27,717 shares. Baldwin Brothers Ma holds 89,912 shares or 0.95% of its portfolio. Bremer National Association has 0.13% invested in Schlumberger Limited (NYSE:SLB). Oppenheimer Co Inc holds 0.2% or 108,526 shares. Pekin Singer Strauss Asset Mgmt Il reported 0.2% in Schlumberger Limited (NYSE:SLB). Us Commercial Bank De has 0.44% invested in Schlumberger Limited (NYSE:SLB) for 1.99 million shares. Northstar Invest Lc owns 0.07% invested in Schlumberger Limited (NYSE:SLB) for 5,468 shares. Altrinsic Glob Advsrs Limited Liability Corporation owns 993,981 shares for 2.37% of their portfolio. Security Retail Bank Of Sioux City Iowa Ia has 16,547 shares for 1.07% of their portfolio. 8,147 are owned by Schulhoff And Inc. Jarislowsky Fraser, a Quebec – Canada-based fund reported 250,526 shares. Appleton Prns Incorporated Ma accumulated 54,402 shares. M Incorporated holds 0.19% or 8,264 shares in its portfolio. Sumitomo Mitsui Trust reported 0.38% of its portfolio in Schlumberger Limited (NYSE:SLB).

Since June 12, 2017, it had 0 insider purchases, and 1 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 $623.37M 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 rating was initiated by KLR Group on Monday, December 14 with “Buy”. The stock of Schlumberger Limited (NYSE:SLB) has “Overweight” rating given on Monday, April 25 by Morgan Stanley. The stock of Schlumberger Limited (NYSE:SLB) has “Equal Weight” rating given on Monday, January 25 by Barclays Capital. The rating was upgraded by Standpoint Research on Wednesday, August 26 to “Hold”. HSBC maintained the shares of SLB in report on Thursday, September 3 with “Buy” rating. The stock of Schlumberger Limited (NYSE:SLB) has “Buy” rating given on Friday, September 1 by RBC Capital Markets. Jefferies maintained Schlumberger Limited (NYSE:SLB) on Friday, August 25 with “Buy” rating. The firm earned “Outperform” rating on Monday, October 23 by Credit Suisse. On Wednesday, January 18 the stock rating was initiated by SunTrust with “Hold”. On Thursday, April 28 the stock rating was downgraded by Societe Generale to “Hold”.

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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