Schlumberger is a top-ranked "Magic Formula" stock, combining high earnings yield and return on invested capital for strong performance. The Magic Formula, by Joel Greenblatt, identifies stocks that are both "cheap" and high-quality based on earnings yield and ROIC. Schlumberger, like Baker Hughes, is benefiting from expanding margins in the oil and gas equipment sector.
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.
SLB recently reported strong Q3 earnings, but macroeconomic challenges have dampened short-cycle investments, hindering the company's revenue growth.
The Investment Committee debate the latest Calls Of The Day
SLB enters into a definitive agreement to sell its Palliser Block assets in Alberta as part of its strategic focus on energy technology. The deal is set to be closed in late Q4 2024.
SLB's Q3 comments suggested slightly muted growth expectations which spooked the market. The more important story is that the growth from the prior couple years is now trickling down to the free cash flow line. 2024 seems to have been the inflection year for share buybacks and 2025 will even more generous in this regard.
SLB (SLB) shares slumped Friday as a lower trend in oil and gas prices hurt quarterly results for the big oilfield services provider.
Schlumberger Limited (NYSE:SLB ) Q3 2024 Results Conference Call October 18, 2024 9:30 AM ET Company Participants James McDonald - Senior Vice President of Investor Relations and Industry Affairs Olivier Le Peuch - Chief Executive Officer Stephane Biguet - Chief Financial Officer Conference Call Participants James West - Evercore ISI David Anderson - Barclays Scott Gruber - Citigroup Arun Jayaram - JPMorgan Neil Mehta - Goldman Sachs Kurt Hallead - Benchmark Saurabh Pant - Bank of America Roger Read - Wells Fargo Stephen Gengaro - Stifel Operator Thank you everyone for standing by. Welcome to the Third Quarter SLB Earnings Conference Call.
The Investment Committee discuss some of their stocks that are on the move.
CNBC's Jim Cramer explains why he is keeping an eye on shares of SLB.
SLB's Q3 earnings benefit from broad-based growth and margin expansion in the Middle East, Asia and offshore North America, alongside cost optimization and digital solutions.
Schlumberger (SLB) came out with quarterly earnings of $0.89 per share, beating the Zacks Consensus Estimate of $0.88 per share. This compares to earnings of $0.78 per share a year ago.