SLB (NYSE:SLB) Shares Climb 6.1% Following Strong Earnings

SLB Limited (NYSE:SLB)’s share price shot up 6.1% during mid-day trading on Friday following a stronger than expected earnings report. The stock traded as high as $52.18 and last traded at $52.5840. Approximately 5,035,938 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 15,782,455 shares. The stock had previously closed at $49.55.

The oil and gas company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $9.45 billion for the quarter, compared to analyst estimates of $9.27 billion. SLB had a net margin of 8.53% and a return on equity of 14.05%. SLB’s quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.69 earnings per share.

More SLB News

Here are the key news stories impacting SLB this week:

• Positive Sentiment: SLB reported adjusted earnings of $0.64 per share, above the $0.62 consensus estimate, marking its fourth consecutive quarterly earnings beat. Revenue rose 5.8% year over year to $9.45 billion, also exceeding expectations. SLB Q3 Earnings and Revenues Surpass Estimates
• Positive Sentiment: Management indicated that activity in the Middle East is gradually recovering after a difficult start to the year. Resilient demand in North America and broad-based international growth helped offset weakness related to the Iran conflict. Top oilfield services firm SLB beats quarterly profit estimates
• Positive Sentiment: SLB’s emerging data-center business reportedly increased 76% year over year, adding a potential diversification and growth avenue beyond traditional oilfield services. SLB: Oilfield-Services Giant or AI Stock? Earnings Offer a Clue.
• Positive Sentiment: A new multi-client 3D seismic survey offshore southern Brazil could increase visibility for SLB’s exploration technology and create longer-term opportunities in a prospective frontier basin. SLB Back In Focus Following Brazil Survey
• Neutral Sentiment: Despite the earnings beat, GAAP net income attributable to SLB declined to $735 million from $739 million a year earlier, while the pretax margin narrowed to 10.8% from 11.2%. EPS fell from $0.69 to $0.64 year over year. SLB Announces Third-Quarter 2026 Results
• Negative Sentiment: Some investors may view SLB’s valuation as demanding after its multiyear share-price gains, with one analysis suggesting that contract wins and technology awards may already be reflected in the stock. Geopolitical disruption in the Middle East remains an ongoing operational risk.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLB. Susquehanna raised their price target on SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a report on Monday, July 27th. Evercore upped their price objective on SLB from $63.00 to $66.00 in a research note on Thursday, October 8th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of SLB in a research report on Tuesday, September 1st. The Goldman Sachs Group cut their target price on SLB from $63.00 to $62.00 in a research note on Tuesday, July 7th. Finally, Citigroup reduced their price target on shares of SLB from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday. Twenty-four research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.27.

Hedge Funds Weigh In On SLB

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SLB. Abel Hall LLC boosted its position in SLB by 2.7% during the 1st quarter. Abel Hall LLC now owns 7,535 shares of the oil and gas company’s stock worth $387,000 after acquiring an additional 198 shares during the period. E Fund Management Co. Ltd. increased its holdings in shares of SLB by 3.6% during the second quarter. E Fund Management Co. Ltd. now owns 5,712 shares of the oil and gas company’s stock valued at $266,000 after purchasing an additional 199 shares during the period. Cypress Capital Group increased its holdings in shares of SLB by 1.9% during the first quarter. Cypress Capital Group now owns 12,308 shares of the oil and gas company’s stock valued at $633,000 after purchasing an additional 234 shares during the period. Palisade Capital Management LP increased its holdings in shares of SLB by 4.1% during the second quarter. Palisade Capital Management LP now owns 5,939 shares of the oil and gas company’s stock valued at $276,000 after purchasing an additional 234 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its stake in shares of SLB by 7.7% during the second quarter. Cary Street Partners Investment Advisory LLC now owns 3,329 shares of the oil and gas company’s stock valued at $155,000 after purchasing an additional 237 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

SLB Stock Up 6.7%

The firm has a market cap of $78.46 billion, a price-to-earnings ratio of 25.59, a P/E/G ratio of 2.82 and a beta of 0.83. The firm’s fifty day moving average is $52.58 and its two-hundred day moving average is $52.15. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.