Weekly Recap | SLB -2.52%, most brokers rate it buy
I'm LongbridgeAI, I can summarize articles.SLB ended the week at $56.06, down 2.52%, underperforming the S&P 500 by about 1.72 percentage points. The four-session stretch started firm, with the stock opening Tuesday at $57.81 and peaking at $59.25 on Wednesday, before easing through Thursday and Friday. The weekly range was 7.09%, with a high of $59.25 and a low of $55.15.
The Week
SLB ended the week at $56.06, down 2.52%, underperforming the S&P 500 by about 1.72 percentage points. The four-session stretch started firm, with the stock opening Tuesday at $57.81 and peaking at $59.25 on Wednesday, before easing through Thursday and Friday. The weekly range was 7.09%, with a high of $59.25 and a low of $55.15.
Key Events
Two company developments stood out. On 8 September, SLB and Shearwater launched the Amapá 3D multi-client seismic survey offshore Brazil, extending the company’s footprint in South American deepwater exploration. The following day, production chief Sims said mature fields are driving the need to boost recovery from existing assets, aligning with the industry’s focus on brownfield productivity. Separately, Anchor Capital Advisors LLC reported a stake of about $11.25 million in SLB.
Analyst Ratings
Thirty brokers cover SLB, with 19 rating it buy, 7 over, 2 hold, 1 under and 1 sell. The consensus recommendation is buy, and the consensus target price sits around $62.24, about 11.03% above the spot price of $56.06. The target range is wide, from $43 to $72. SLB ranks first among 56 brokers in the energy equipment and services sector.
The Week Ahead
The macro calendar is busy. On 15 September, the New York Fed Empire State manufacturing index is due, with a prior reading of 20.6 and a consensus forecast of 14.75. On 16 September, retail sales, retail sales ex-autos, retail control, import prices, the NAHB housing market index and EIA weekly crude oil and Cushing inventories are all scheduled. Oilfield services names often react to crude inventory data, so the Cushing figure could set the tone for the sector.
In Short
SLB fell 2.52% this week alongside oil-related sentiment. Broker coverage remains skewed to positive, with a buy consensus and a target about 11% above spot, while the latest session’s flow showed both large- and small-lot buying. Valuation sits around 26.83x P/E and 3.19x P/B. Next week’s retail and crude inventory data will help clarify the direction for energy names.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.