NESR - Schlumberger To Benefit From Acquisition And International Operations
2024-06-11 09:33:05 ET
Summary
- Schlumberger is less significantly impacted than its competitors by the big drop in US rigs because its focus is more international.
- Still, the company is experiencing consolidation in its customer base due to the extraordinary M&A activity among large oil companies.
- Because SLB's stock is near its 12-month low, it may appeal to energy value-seekers. However, its dividend is modest at 2.4% and so SLB stock is not recommended for dividend investors.
The lower stock price of international oilfield services giant SLB ( SLB ) (formerly Schlumberger) presents an entry point for growth-oriented energy investors.
SLB has just announced the acquisition of specialty oilfield services company ChampionX. The acquisition is expected to close later in 2024....
Schlumberger To Benefit From Acquisition And International Operations