Schlumberger saw its IBD SmartSelect Composite Rating rise to 96 Friday, up from 94 the day before.
The upgrade means the stock currently tops 96% of all other stocks in terms of key performance metrics and technical strength. Winning stocks often have a 95 or higher score in the early stages of a new price run, so that's an important benchmark to look for when looking for the best stocks to buy and watch.
Schlumberger is not currently near a proper entry, as it is still building the right side of a cup pattern. Definitely one for your watchlist as we wait for a follow through day on the market.
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Earnings Watch
One weak spot is the company's 79 EPS Rating, which tracks quarterly and annual earnings-per-share growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks. Next report is due October 21.
Its Accumulation/Distribution Rating of B shows moderate buying by institutional investors over the last 13 weeks.
The company posted 67% earnings growth for Q2. Revenue growth increased 20%, up from 14% in the prior quarter. That marks seven consecutive reports with increasing revenue gains. The company's next quarterly report is expected on or around Oct. 22.
Schlumberger earns the No. 1 rank among its peers in the Oil & Gas-Field Services industry group. Profrac Holding Crp Cl A and Civeo are also among the group's highest-rated stocks.
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