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Is Selling Schlumberger Limited (SLB) Here a Winning Strategy? The Stock Formed Bearish Wedge Down Chart Pattern

December 7, 2017 - By Clifton Ray

Investors sentiment decreased to 0.88 in 2017 Q2. Its down 0.29, from 1.17 in 2017Q1. It fall, 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.
Halsey Associate Ct holds 0.13% or 9,450 shares in its portfolio. Stonebridge Cap has invested 1.61% in Schlumberger Limited (NYSE:SLB). One Capital Mngmt Limited Liability Corp holds 6,558 shares or 0.13% of its portfolio. 21,358 are owned by One Natl Association. Clearbridge Limited Com holds 0.87% of its portfolio in Schlumberger Limited (NYSE:SLB) for 13.43 million shares. Brick Kyle Assocs owns 26,179 shares or 1.48% of their US portfolio. Mackenzie Corp has 0.15% invested in Schlumberger Limited (NYSE:SLB) for 410,327 shares. Institute For Wealth Limited Com reported 16,291 shares. Hugh Johnson Limited Liability Com invested 0.07% of its portfolio in Schlumberger Limited (NYSE:SLB). Lsv Asset Mgmt reported 0% stake. Hall Laurie J Trustee reported 16,002 shares or 0% of all its holdings. Bourgeon Ltd owns 2.37% invested in Schlumberger Limited (NYSE:SLB) for 57,563 shares. Weatherly Asset Mgmt Limited Partnership has invested 0.2% of its portfolio in Schlumberger Limited (NYSE:SLB). United Kingdom-based Lombard Odier Asset Management (Europe) Ltd has invested 0.09% in Schlumberger Limited (NYSE:SLB). Peapack Gladstone Finance Corporation holds 0% in Schlumberger Limited (NYSE:SLB) or 205,630 shares.

Since June 12, 2017, it had 0 buys, 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 earnings per share, 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 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. The firm has “Hold” rating given on Wednesday, January 18 by Suntrust Robinson. Barclays Capital maintained the stock with “Equal Weight” rating in Monday, January 25 report. The company was downgraded on Wednesday, April 20 by Standpoint Research. KLR Group initiated Schlumberger Limited (NYSE:SLB) on Monday, December 14 with “Buy” rating. The firm has “Buy” rating given on Friday, October 20 by Wells Fargo. Cowen & Co maintained Schlumberger Limited (NYSE:SLB) rating on Monday, April 25. Cowen & Co has “Outperform” rating and $85 target. Oppenheimer maintained it with “Outperform” rating and $92.0 target in Monday, January 25 report. The rating was maintained by Cowen & Co with “Buy” on Friday, July 7. The rating was maintained by Argus Research on Thursday, August 27 with “Buy”. Citigroup maintained it with “Buy” rating and $80 target in Thursday, October 5 report.

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

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