📌 SLB – Oilfield Services With Macro & Policy Tailwinds (Updated 2025-07-06)
1️⃣ What the Company Does
SLB (formerly Schlumberger) is the world’s largest oil-field-services provider, supplying drilling, completions and reservoir technologies to E&P companies on every continent. Its asset-light, service-fee model means earnings track global rig count and upstream cap-ex cycles.
2️⃣ Recent Fundamentals
| Metric |
Q1-25 |
YoY |
Notes |
| Revenue |
$7.8 B :contentReference[oaicite:0]{index=0} |
+4 % |
Driven by Middle East & offshore projects |
| Adj. EPS |
$0.72 |
+6 % |
Digital & production systems margin lift |
| FY-25 Street EPS |
$3.07 (cons.) :contentReference[oaicite:1]{index=1} |
–10 % vs FY-24 |
Reflects Saudi drilling pause |
Debt/EBITDA < 1.3×; free-cash-flow conversion > 75 %.
3️⃣ Why It Fits the 2025 Macro Tape
- GENIUS Act trimmed renewables credits; CAPEX is rotating back to oil & LNG.
- Trump administration has green-lit additional Gulf of Mexico leases.
- Brent > $75 keeps international deep-water projects economic.
4️⃣ Key Catalysts
- 18 Jul 25 – Q2 results & new capital-return target :contentReference[oaicite:2]{index=2}
- Potential inventory drawdowns if Iran–Israel tension disrupts supply.
- Saudi/ADNOC finalise 2026 offshore awards.
5️⃣ Technical Map & Trading Plan
- Support: $51 – 52 (200-dma)
- Resistance: $59 – 61 (2024 high)
- Entry window: $53–55 on low-RV pull-backs
- Target (3 mo): $65
- Stop: close < $50