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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.
SLB reached oversold levels not seen since the regional banking crisis on negative energy sentiment. The Q4 earnings were excellent and the company reiterated its bullish guidance for the next few years. Buying now could yield 30%-40% returns over the next 12-18 months.
Schlumberger Limited (SLB) Q4 2023 Earnings Call Transcript
SLB Q4 earnings suffer due to a decline in profitability in Asset Performance Solutions, impacted by lower commodity prices in Canada.
Although the revenue and EPS for Schlumberger (SLB) give a sense of how its business performed in the quarter ended December 2023, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
The price action in SLB NYSE: SLB entered a correction last fall, but it has ended. Within a sustained uptrend, the correction has drilled to critical levels and rebounded after the Q4 earnings release.
Schlumberger Limited. (NYSE:SLB) has reported revenue and earnings that topped expectations, supported by its international operations.
Schlumberger (SLB) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.71 per share a year ago.
The oil services provider posts adjusted earnings of 86 cents a share, beating analysts' forecasts by 2 cents.
The expected uptick in offshore oil and gas exploration spending presents opportunities for companies such as SLB (SLB), Seadrill (SDRL) and Transocean (RIG).