SLB shares snap six-session winning streak

SLB (NYSE:SLB) shares snapped six straight sessions of gains, as the stock was down 1.5% at $35.45 on Tuesday.

The oilfield services provider company added 7.3% in the preceding six sessions. The stock has lost nearly 8% so far this year, compared to an 8.6% rise in the broader S&P 500 Index.

SLB is up 4% over the past one month.

Most recently, SLB has been awarded a carbon storage contract by Northern Endurance Partnership, a JV of bp, Equinor, and TotalEnergies.

“Long-term oil demand growth and Schlumberger’s AI-driven digital initiatives provide powerful tailwinds for sustained earnings expansion,” pointed out a Seeking Alpha analysis.

In the second quarter, SLB reported an earnings beat and revenue fell 6% to 8.55B but came above analyst expectations of $8.48B. The company warned of a likely drop in global upstream spending in 2025, driven by weakness in North and Latin America.

Looking at Seeking Alpha’s Quant Rating, SLB has a Hold rating with a score of 3 out of 5. The company received A in the prospect of profitability, D+ in momentum, while it got D growth factor.

Turning to the Wall Street community, 26 analysts gave SLB a Buy and above rating. Three analysts have given the stock a Hold recommendation, while none recommended Sell or lower.

Seeking Alpha analysts are positive and see the stock as a Buy.