SLB Limited (SLB)

Over the past six months, SLB's stock price has declined by 8.42%, and by 24.64% from October 4, 2024, to October 3, 2025. In Q2 2024, SLB reported higher-than-expected profit and revenue due to strong international growth, but the stock has underperformed the S&P 500 Energy Sector Index. Demand has softened in 2025 due to an oversupply in oil markets and tariff uncertainties, with upstream investment expected to decline, particularly in North America.

Demand for SLB's products and services is influenced by the cyclical nature of the oil and gas industry and seasonal variations in drilling activity. The company typically experiences a seasonal rebound in the Northern Hemisphere during the second quarter. SLB's business is highly leveraged to rising oil prices, which tend to boost exploration and production spending. Lower oil prices can reduce demand for SLB's services, although the company is working to diversify into new energy segments to create less cyclical growth.

Schlumberger Ltd., known as SLB, is a global oilfield services company providing technology for reservoir characterization, production, drilling, and processing. It is incorporated in Curaçao with executive offices in Houston, Texas. SLB operates in the Industrial Services and Energy and Utilities sector, offering products and services across the hydrocarbon recovery lifecycle, including wireline logging, drilling, well completion, and well services. The company also provides interpretation, consulting, integrated project management, reservoir imaging, seismic monitoring, and digital solutions, and is expanding into new energy technologies like carbon capture, geothermal, and lithium extraction.

SLB has a significant global presence, operating in over 100 countries with more than 900 facilities. Its operations are organized into four major geographic areas: North America, Latin America, Europe & Africa, and the Middle East & Asia. The Middle East & Asia and Europe & Africa have shown consistent revenue growth in recent years.

In the past year, SLB has strategically repositioned itself as a technology and innovation leader in the energy sector, emphasizing clean energy initiatives alongside its core fossil fuel business. This rebranding, which officially saw the company become known as SLB in 2022, was communicated through an investors conference, leading to increased engagement and a boost in share price. The company's investments in digital, carbon capture, and lithium extraction businesses are aimed at driving long-term, less cyclical growth and enhancing its reputation as an innovator.

Approximately 70.01% to 77% of SLB's stock is held by institutional investors, with the top 10 institutional investors owning 45% of the company. Major institutional owners include Vanguard Group Inc, BlackRock, Inc., Price T Rowe Associates Inc /md/, State Street Corp, Charles Schwab Investment Management Inc, Geode Capital Management, Llc, and Morgan Stanley. Didier Primat is the largest individual shareholder, owning 2.38% of the company's shares.