nyseslb
SLB stock is soaring after a stellar earnings report.The company’s traditional oil and gas business appears to have a long runway.Investors will now refer to the company as SLB after a rebranding that positions the company in the clean energy space.The stock is now trading at its 52-week high; but may be overbought at the moment.Shares of Schlumberger (NYSE:SLB) are up over 10% after the company posted a beat on both the top and bottom lines on October 21. The oil and gas giant posted revenue of $7.48 billion, exceeding analysts’ estimates for $7. 10 billion. And on the bottom line, the compan...
ValueWalk
The results from oil services companies like Baker Hughes (NYSE:BKR), Haliburton (NYSE:HAL), and Schlumberger (NYSE:SLB) were mixed to be sure but there is one common thread among them. The outlook for spending on oil-field services remains strong and supportive of a multi-year upcycle for the industry. Even Baker Hughes, which gave the weakest report in the Q2 cycle, is forecasting an increase in spending that will support not only revenue and earnings but healthy dividend payments as well. Q2 2022 hedge fund letters, conferences and more Find A Qualified Financial Advisor“On the other hand, ...
ValueWalk
Energy stocks Schlumberger (NYSE:SLB) and Transocean (NYSE:RIG) boast double-digit year-to-date price gains, part of the overall energy sector’s 2022 leadership trend. These are quite different companies, in terms of size and profile. Together, they offer a glimpse of how various parts of the energy industry are faring at the moment. Q2 2022 hedge fund letters, conferences and more Find A Qualified Financial AdvisorAfter declining in June, the overall energy sector rebounded last month. So far in August, the Energy Select Sector SPDR ETF (NYSEARCA:XLE) is down 4.68%. The ETF tracks the large-c...
ValueWalk
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