Insiders including the President of New Energy, Gavin Rennick, are selling shares in Schlumberger Ltd (SLB) despite bullish outlooks from Wall Street. However, private wealth management companies including, Corient Wealth, Oak Family Advisors, and Simplicity Wealth, are boosting their holdings. SLB's stock has also seen increased acquisition from reputable companies such as the Dai ichi Life Insurance Company and ING Groep NV. This amplified activity alludes to the firm's increasing dividend payments. Despite recent analysis suggesting SLB is oversold, it's becoming a trending stock among knowledgeable investors.
SLB's Q2 earnings surpassed estimates with increased revenues indicating strong quarterly performance. Rising investor interest is also visible in heavy online searches. In the Q1 2024, SLB aligned with EPS projections, surpassing revenue estimates leading to moderated buy ratings by brokerages. The firm announced the divestiture of WesternGeco Assets to Shearwater, possibly to address weakening domestic yields. Despite the lagging performance in North America, its international business is thriving, aligning with the uptick in international drilling demands. This diversification has SLB's operational efficiency and strategic positioning improving its investment prospect.
Schlumberger Limited SLB News Analytics from Wed, 27 Dec 2023 08:00:00 GMT to Thu, 23 May 2024 22:11:47 GMT - Rating 6 - Innovation 7 - Information 8 - Rumor -6
