Why is Schlumberger stock down today?

Traders Union
All News
Financial News
Schlumberger slides 2.07% today

Highlights

Schlumberger posted Q1 2026 revenue of $8,721 million and net income of $752 million, affirming its dividend at $0.295 per share.
A completed $6.32 billion share repurchase retired 139.8 million shares, while Wilkins Investment Counsel cut its SLB stake by 9.5%.
Despite overbought technical signals and intraday weakness, the prevailing trend remains bullish with an expected trading range of $54.97 to $56.39.

Dividend affirmation and buyback wind-down amid institutional selling pressure

Schlumberger reported first-quarter 2026 sales of $8,721 million and net income of $752 million. The company affirmed a quarterly dividend of $0.295 per share and completed a long-term share repurchase program, retiring 139,800,134 shares for $6.32 billion. Institutional investor Wilkins Investment Counsel Inc. reduced its SLB holdings by 9.5% in the fourth quarter, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, notes that SLB trades above key moving averages, but the stock's sharp overbought technicals and current price pullback signal rising risk. He highlights that institutional selling and persistent intraday weakness suggest market confidence may be overstated despite solid results. Oscillator extremes show the uptrend is stretched, and the downside gap raises concerns about potential mean reversion. Kharitonov is skeptical of continued upside in the short term. He warns, "A failure to hold $54.97 support could trigger accelerated profit-taking and deeper correction."

Viktoras Karapetjanc, expert at Traders Union, sees robust fundamentals fortified by healthy earnings, a solid dividend, and a large-scale share buyback. He believes the macro backdrop and strong institutional interest position SLB for continued gains. Karapetjanc notes that the bullish structure remains intact as the stock maintains momentum above critical averages. "Further growth is expected if bulls defend $54.97, and the market offers multiple upside setups as long as overbought conditions persist," he says.

Jainam Mehta, market strategist, points out that SLB's momentum indicators remain bullish, but intraday divergence signals caution for aggressive longs. He observes that short-term volatility may present tactical entry points near support. "I see a potential breakout if $56.39 is cleared, yet a failure at current levels might set up a contrarian short-term play," Mehta advises.

Overbought momentum persists as intraday weakness diverges from trend signals

Momentum signals are positive, with MACD and ADX both confirming a prevailing uptrend and strong trend intensity. Several oscillators — including the RSI at 69.46, Stochastic RSI at 98.93, and CCI at 120.44 — indicate pronounced overbought conditions. Bull/Bear Power (BBP) at 2.45 shows buyers dominating intraday momentum, reinforcing the overbought signal. The Awesome Oscillator is neutral and does not contradict the broader trend. On the day, the stock is down $1.18 or 2.07%, opening with a small downside gap and now trading near the low end of the session’s range. Intraday volatility stands at 1.83%, with ongoing pressure after the open as intraday movement is not being confirmed by the underlying momentum, creating a divergence with the dominant daily and weekly uptrend signals.

Earlier, analysts noted that Schlumberger was exhibiting a broadly bullish technical structure supported by sustained momentum. The current setup reinforces this positive outlook but highlights that a failure of key support at $54.97 would raise the risk of a more significant corrective move in the sessions ahead.

Source of Data: SLB Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.