Positioning no disclosures inside 60 days, left as found
Options put/call open interest 0.86, read 2026-10-28
Ethical passes the values gate
Price53.75 USD
Fair value45.03
Ethical score83.2/100
RatingAVOID
Our investment reviews on this name
2026-10-11Read Markdown51.54+4.3% to today Distribution gives way to Markdown with volume flow in agreement
2026-10-02Read Distribution51.54+4.3% to today Markup gives way to Distribution with deal news in the headlines
2026-08-25Read Markup53.55+0.4% to today ✓Accumulation gives way to Markup
2026-07-02Read Accumulation54.87-2.0% to today First review on file: Accumulation
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Schlumberger holds its Markup at $53.75. The statistical read favours the sellers, held for 44 days.
As held on the ledger · 2026-10-28
Phase
Markup
Quantitative state
The statistical read favours the sellers, held for 44 days
Price at the screen
$53.75
Valuation
23.48 trailing · 15.10 forward price to earnings
Values screen
PASS· score 83.2
Beta
0.84
The Workings
Five Screens, Shown in Full
Full pass across all five screens. This security clears the Titan Ethical Standard: its business and its balance sheet both stay inside the lines.
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
21.21%
Below 33%
Interest-bearing debt is just 21.2% of its assets, well under the one-third ceiling: it does not run on borrowed money.
Pass
Interest-bearing cash
6.52%
Below 33%
Cash held in interest-bearing accounts and securities is 6.5% of assets, under the one-third limit.
Pass
Receivables
21.37%
Below 49%
Money owed to the company is 21.4% of assets, under the 49% limit.
Pass
Revenue purity
0.38%
Below 5%
Only 0.4% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
The Ethical Read
Why It Clears, in Plain English
Schlumberger clears all five screens. Its business is in a permissible area, its interest-bearing debt is about 21%, inside the ~33% line, and almost none of its income is interest, so it passes.
Read as at 2026-10-28. It updates when the underlying figures move, and past reads are kept below.
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Today SLB passes the screen. If new figures move it to a fail, we send you one short email with the before and after. Verdicts change rarely, so you may not hear from us for a long time.
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What the Numbers Say It Is Worth
The Fair Value Range
Our analysis reads AVOID: it trades above our $45.03 fair value estimate, narrow competitive moat, 5.00% revenue growth.
Fair value range in USD, drawn from the 2026-10-28 screen. The gold marker is the market price at the same screen. The price runs 16.2% above the base estimate.
Third-party analyst targets: 29 covering, consensus Buy. The average target sits +17% from the screen price.
Reading the gap · Our more conservative model reads it as fully-to-richly valued here, while the Street is more bullish: a quality-at-a-fair-price name rather than a deep-value one.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-10-28 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Oil services look cheap until the cycle turns
Every time crude prices climb the rigs light up and service crews stay busy. Schlumberger sits at the centre of that flow yet we pass. The shares trade above our fair value with only a narrow moat and modest three per cent revenue growth.
Forward earnings sit on a fourteen times multiple while margins run at nine per cent and return on equity reaches fourteen per cent. Analysts still cluster around a buy rating with targets well above the current price. None of that shifts the core issue in a business tied to volatile drilling budgets.
This is a classic cyclical value trap. Low multiples often mark peak earnings rather than a bargain and energy spending can fall fast when prices turn. Ethical checks clear but the economics do not. Analysis, not advice.
The risks · The main risks here are ordinary market swings and the chance our fair-value read proves too optimistic.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
SLB trades on a US exchange. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The Dated Journal · Newest First, Never Edited
Every Entry, As Written
2026-10-23Markdown$48.37+0.0%Entry 21
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (28 analysts) rates it buy, with a mean price target of $62. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-22Markdown$48.37+0.0%Entry 20
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (28 analysts) rates it buy, with a mean price target of $62. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-21Markdown$48.37+0.0%Entry 19
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (28 analysts) rates it buy, with a mean price target of $62. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-20Markdown$48.37+0.0%Entry 18
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (28 analysts) rates it buy, with a mean price target of $62. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-19Markdown$48.37+0.0%Entry 17
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it D, carrying a low risk profile. Technically it is holding around 3% above its long-term trend line with momentum reading bearish. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (28 analysts) rates it buy, with a mean price target of $62. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-18Markdown$48.37+0.0%Entry 16
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 35% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (28 analysts) rates it buy, with a mean price target of $62. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-17Markdown$48.37+0.0%Entry 15
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 35% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (28 analysts) rates it buy, with a mean price target of $62. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-16Markdown$48.37-6.2%Entry 14
The analysis reads markdown. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 6.2% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 35% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (28 analysts) rates it buy, with a mean price target of $62. It reported earnings in this window, a natural checkpoint for the thesis.
2026-10-11Markdown · changed$51.54+0.0%Entry 13
The framework has shifted from distribution to markdown since the last review. Price is trending lower. Sellers are in control and the prior trend has reversed. Price has moved down 0.0% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 35% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (28 analysts) rates it buy, with a mean price target of $62.
The framework has shifted from markup to distribution since the last review. Smart money appears to be selling into strength. Institutional holders may be rotating out. Price has moved down 3.8% since our last review. Ethical screening: PASS with strong ethical credentials. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B, carrying a low risk profile. Technically it is holding around 35% above its long-term trend line with momentum reading neutral. Over the past year the shares are up 61%. Our forward projection puts the odds of a 10% gain over the next month near 24%. The street (28 analysts) rates it buy, with a mean price target of $62.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.