The oilfield services company
Schlumberger Limited (SLB) has seen a significant increase in investor attention recently. Various asset management firms have either increased, acquired, or sold their stakes, underlining the company's considerable institutional ownership. Despite some recent stock sale activity from within the firm and a 3.6% drop in the share price, the stock appears to be on an uptrend, guided by strong financials.
First-quarter earnings have been reported, prompting some to change their perception of the stock. Analysts, on average, have given it a 'Moderate Buy' rating. The firm has outperformed in the oil-energy sector, and although it carries inherent risks, it is predicted to offer potential upside. Its EPS aligned with projections and it surpassed revenue estimates in Q1 2024. While the recent market cap drop may dismay some, the ongoing financial strength of the company is highlighted.
Dividend payments and strategic asset divestments also make news. The company has delivered robust fourth-quarter and full-year 2023 results, signalling underlying strength. The future looks promising, with a new acquisition expected to drive growth, despite a slight softening of oil demand in the US.
Schlumberger Limited SLB News Analytics from Mon, 23 Oct 2023 07:00:00 GMT to Sun, 19 May 2024 13:25:40 GMT -
Rating 7
- Innovation 5
- Information 8
- Rumor 4
