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....
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Schlumberger To Benefit From Acquisition And International Operations