Index falls as earnings results weigh; pound above $1.33, Bodycote soars
In a recent transaction, Rennick Gavin, the President of New Energy at Schlumberger Limited (NYSE:SLB), a $55.17 billion energy services giant with a solid financial health rating according to InvestingPro, sold 26,990 shares of the company’s common stock. The shares were sold at an average price of $40.92, resulting in a total transaction value of approximately $1.1 million. Following this sale, Gavin holds 53,584 shares of Schlumberger stock. The transaction was completed on February 26, 2025. According to the filing, the sale was executed in multiple trades at prices ranging from $40.92 to $40.941. The stock, which currently trades at a P/E ratio of 12.87, has demonstrated low price volatility and appears slightly undervalued based on InvestingPro’s Fair Value analysis. For deeper insights into SLB’s valuation and 8 additional exclusive ProTips, explore the comprehensive Pro Research Report available on InvestingPro.
In other recent news, SLB has been actively restructuring its business and reducing its workforce as part of a cost-saving initiative. The company has introduced a new performance function, led by a newly appointed chief performance officer, to oversee various operations. Additionally, SLB Capturi, a joint venture with Aker Carbon Capture, secured a contract for a carbon capture project in Oslo, Norway, in collaboration with Aker Solutions. This project involves providing a carbon-capture plant and associated infrastructure for a waste-to-energy facility.
Analysts have been revising their outlooks on SLB, with Stifel maintaining a Buy rating and a $59 price target, citing the company’s strong fourth-quarter performance and favorable 2025 outlook. TD Cowen also raised its price target from $53 to $55, maintaining a Buy rating due to SLB’s better-than-expected guidance for the first quarter and 2025. Meanwhile, Benchmark analysts reiterated a Buy rating with a $60 price target, highlighting SLB’s promising Digital business and planned increase in dividends and share repurchases.
SLB reported fourth-quarter results that slightly exceeded expectations, and its guidance for 2025 has been more optimistic than anticipated. The company’s commitment to returning capital to shareholders remains firm, with plans to return at least $4.0 billion in 2025. This follows a distribution of $3.3 billion in 2024, supported by proceeds from asset sales and disciplined spending.
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