Preview: Slb Rises Ahead Of Fourth: quarter results

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19/01/2023 18:43

** Shares of oilfield services firm SLB NV  SLB.N  up 1.3%
at $57.85, ahead of Q4 print before markets open on Friday 
    ** SLB, which changed its name from Schlumberger last
October, has benefited from higher oil drilling and production
activity in North America as Russia's invasion of Ukraine and
subsequent sanctions crimped supplies and lifted prices
    ** Firm boosted its business in Russia by picking up
contracts as rivals exited following the invasion, according to
a Reuters report
    ** Street expects SLB to post an adj. profit of $0.68 vs
$0.42 a year ago and revenue of $7.81 bln vs $6.23 bln -
Refinitiv
    ** Houston-based SLB, the world's largest oilfield services
provider, topped market expectations for past eight quarters
    ** SLB kicks off earnings for the industry; Baker Hughes Co
 BKR.N  and Halliburton Co  HAL.N  report next week  
    ** 27 of 31 brokerages rate SLB a "buy" or higher and four
rate it "hold"; their median PT is $62 - Refinitiv
    ** SLB had gained ~49% in the last quarter, compared to a
21.7% rise in the S&P 500 energy sector  .SPNY  
 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))