SLB NYSE: SLB said it has agreed to acquire thermal management and heat-exchange technology provider Kelvion in a transaction valued at approximately $3.4 billion in cash, plus the assumption of about $700 million in debt. The company expects the acquisition to close in the first half of 2027, subject to customary conditions and regulatory approvals.
SLB remains a compelling growth pick, leveraging legacy oilfield services and new digital, subsea, and data center catalysts. Recent acquisitions and segment diversification have reduced SLB's reliance on new-well drilling, driving more recurring and capital-light revenue streams. Q2 2026 results showed 3% sequential revenue growth, margin expansion, and strong data center segment performance, despite Middle East headwinds.
The oil drilling and production company agreed to acquire thermal management company Kelvion for $4.1 billion in a bid to strengthen its growing data center business.
SLB just secured access to Venezuela's prized oilfield data and may reactivate up to 15 rigs in a country that previously defaulted on billions owed to the company itself.
In the latest trading session, SLB (SLB) closed at $53.29, marking a -1.31% move from the previous day.
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Schlumberger beats Q2 earnings and revenue estimates, lifting investor interest in energy ETFs like IEZ, OIH and XLE with heavy exposure to SLB.
SLB (SLB) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
SLB's offshore scale, digital growth and ChampionX production strengthen its long-term growth outlook for 2027, but Middle East risks and net debt cloud the near term.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.