Analyst Lloyd Byrne of Jefferies maintained a Buy rating on Schlumberger (SLB – Research Report), retaining the price target of $71.00.
Lloyd Byrne has given his Buy rating due to a combination of factors, including Schlumberger’s sustained international and offshore market growth, as well as the company’s robust year-over-year revenue increase. Despite facing a seasonal dip in both international and North American markets, Schlumberger has maintained its growth outlook for the year, showcasing confidence in its market position and strategy.
Furthermore, Byrne’s positive outlook is supported by Schlumberger’s consistent financial performance in the first quarter, with revenues and pre-tax segment operating income aligning with expectations. The company’s ability to achieve an operating income margin that met consensus views indicates a strong operational efficiency, reinforcing Byrne’s decision to recommend Schlumberger as a Buy to investors.
In another report released on April 16, Bank of America Securities also assigned a Buy rating to the stock with a $63.00 price target.
TipRanks tracks over 100,000 company insiders, identifying the select few who excel in timing their transactions. By upgrading to TipRanks Premium, you will gain access to this exclusive data and discover crucial insights to guide your investment decisions. Begin your TipRanks Premium journey today.
Schlumberger (SLB) Company Description:
Founded in 1926, Schlumberger NV is an oilfield services company, which provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems.
Read More on SLB:
