Recently, Zacks.com users have been paying close attention to Schlumberger (SLB). This makes it worthwhile to examine what the stock has in store.
SLB is expanding into the carbon capture market, which is still in its early stages. Despite this, the firm is likely to achieve industry-leading margins.
Following Russia's invasion of Ukraine, SLB is expanding its Russian operations, signing new contracts and recruiting staff despite Western competitors exiting the market.
This piece looks at two stocks with divergent outcomes: SLB has upside potential, while Costco's high valuation may lead to weak forward returns. SLB is well-positioned in the oil industry with a diverse revenue stream and strong balance sheet, while Costco's high valuation raises concerns for future returns of an otherwise excellent company. Interest in low-volatility growth stocks reflects risk aversion in the market, but carefully investing in cyclicals and emerging markets may offer better long-term safety and value.
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, Baker Hughes, Helix Energy Solutions and Solaris Oilfield have been highlighted in this Industry Outlook article.
Schlumberger (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 recently reported strong Q2 earnings, but the North American rig count data indicates a bearish outlook for the business.
SLB is not cheap but has been growing revenue and earnings at impressive rates. The market has been penalizing the company due to misunderstanding Saudi Arabia's shift from new offshore developments to the Jafurah unconventional gas field. SLB will benefit from the Saudi focus on Jafurah and the latest earnings report confirms the growth trend in the Middle East remains intact.
Schlumberger Limited (NYSE:SLB ) Q2 2024 Results Conference Call July 19, 2024 9:30 AM ET Company Participants James McDonald - SVP of IR & Industry Affairs Olivier Le Peuch - CEO Stephane Biguet - EVP & CFO Conference Call Participants James West - Evercore ISI David Anderson - Barclays Scott Gruber - Citigroup Arun Jayaram - JPMorgan Neil Mehta - Goldman Sachs Dan Kutz - Morgan Stanley Luke Lemoine - Piper Sandler Saurabh Pant - Bank of America Marc Bianchi - TD Cowen Kurt Hallead - Benchmark Operator Thank you everyone for standing by. Welcome to the SLB Second Quarter Earnings Conference Call.
U.S. stocks traded lower midway through trading, with the Dow Jones index falling more than 300 points on Friday.
SLB's Q2 earnings gain from significant contributions from Middle East & Asia projects and enhanced offshore exposure in key regions, including the Gulf of Mexico.