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Oil prices had a strong Q3, benefiting oilfield services companies like Schlumberger. Schlumberger is the world's largest provider of services and equipment for the energy industry. The company's digital business and AI presence are expected to drive higher margins and revenue growth.
Zacks.com users have recently been watching Schlumberger (SLB) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
HOUSTON--(BUSINESS WIRE)--SLB (NYSE:SLB) will hold a conference call on October 20, 2023 to discuss the results for the third quarter ending September 30, 2023. The conference call is scheduled to begin at 9:30 am US Eastern time and a press release regarding the results will be issued at 7:00 am US Eastern time. To access the conference call, listeners should contact the Conference Call Operator at +1 (844) 721-7241 within North America or +1 (409) 207-6955 outside of North America approximate.
SLB has been a strong performer due to increasing oil and gas drilling, with shares rallying nearly 50%. The company is generating strong profits and free cash flow, with a favorable global environment for oil and gas servicing activity. SLB's focus on international projects and long-term contracts provides a solid earnings and cash flow growth runway.
Bryn Talkington, managing partner at Requisite Capital Management, joins the investment committee on 'Halftime Report' to discuss a technical read of the oil market, a mismatch in oil supply and demand levels, and incongruencies in the oil energies market.
Recently, Zacks.com users have been paying close attention to Schlumberger (SLB). This makes it worthwhile to examine what the stock has in store.
Amy Chua, President of SLB Asia, says that it might be "beyond this decade" for green hydrogen to be commercially available in Asia.
SLB is on track to add about $5 billion in revenue this year, and sees similar potential for growth in 2024, mainly helped by increased drilling in international markets, CEO Olivier Le Peuch said at a conference on Wednesday.
Schlumberger (SLB) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Schlumberger, a company in the energy sector, has the opportunity to capitalize on the increasing demand for energy from non-Russian sources. The company's fundamentals show a decline in revenues but a potential for growth in sales and EPS in the medium term. Schlumberger has opportunities in offshore exploration, an improved balance sheet, and involvement in renewables such as carbon capture and geothermal energy.