Oilfield firm SLB's profit rises on international drilling demand
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Morgan Stanley sees a buying opportunity developing in this oil stock
April 22, 2024 1:00 PM EDTMorgan Stanley analysts view recent stock price weakness in Schlumberger on oil stock as a buying opportunity, despite the company endorsing its full-year 2024 guidance.
The Schlumberger stock price decline came even though the company reiterated its mid-teens percentage growth target for Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)... More
SLB (SLB) PT Lowered to $62 at BofA Securities
April 22, 2024 6:09 AM EDTBofA Securities analyst Chase Mulvehill lowered the price target on SLB (NYSE: SLB) to $62.00 (from $63.00) while maintaining a Buy rating.
The analyst comments "Were tweaking our 2024E / 25E Adj. EBITDA by -1% to $9.25 / $10.33bn to allow for 1) modestly weaker NAM in 2024E, and 2)... More
SLB (SLB) PT Lowered to $64 at BMO Capital
April 22, 2024 5:34 AM EDTBMO Capital analyst Philip Jungwirth lowered the price target on SLB (NYSE: SLB) to $64.00 (from $66.00) while maintaining a Outperform rating.
The analyst comments "We viewed SLB's 1Q24 results as in line, while 2Q24 guidance implies ~$0.82-0.84 EPS, near consensus. While a quarterly... More
SLB (SLB) PT Lowered to $64 at JPMorgan
April 22, 2024 5:09 AM EDTJPMorgan analyst Arun Jayaram lowered the price target on SLB (NYSE: SLB) to $64.00 (from $65.00) while maintaining a Overweight rating.
The analyst comments "SLBs 1Q24 results and 2Q24 guide generally matched consensus expectations yet the shares slid 2.1%, lagging its OSX and Large Cap OFS peers by 287bps and 332bps, respectively. We think the culprit was the slight EBITDA margin miss (23.6% vs. JPMe of 23.7%) as D&I and Well Construction margins were light. In particular, we sensed buyside disappointment on D&I... More
SLB (SLB) PT Lowered to $65 at Citi
April 22, 2024 5:03 AM EDTCiti analyst Scott Gruber lowered the price target on SLB (NYSE: SLB) to $65.00 (from $70.00) while maintaining a Buy rating.
The analyst comments "SLB slumped on Friday due to a disbelief that full year guidance was still reasonable, despite management reiterating their mid-teens EBITDA... More
