SLB Limited (SLB)

In April 2025, SLB anticipated a tough year due to oil oversupply and OPEC+ crude releases, reporting a soft start with weaker Latin American demand. In July 2025, SLB narrowly beat Q2 profit expectations due to resilient international demand, despite drilling slowdowns in North America, Mexico, and Saudi Arabia. In September 2025, insider Dianne B. Ralston sold shares, and SLB was awarded a major Petrobras contract. In October 2025, SLB reported Q3 results with an EPS beat but a revenue miss, partnered with Ormat Technologies for geothermal development, and saw an analyst upgrade from Piper Sandler. The stock experienced a jump due to softening U.S. import tariffs, but also faced layoffs and an insider stock sell.

SLB's products and services experience some demand seasonality, with a typical pattern of activity impacted by seasonality and a decline in digital sales through March. This is usually followed by an activity rebound in the second quarter and further acceleration of growth in the second half of the year, particularly in international markets. International markets, especially the Middle East and Asia, are expected to show more resilience. Offshore activity and demand for drilling in regions like the UAE, Kuwait, and Iraq have contributed to results, while land activity in North America and Latin America carries greater downside risk.

SLB N.V., formerly Schlumberger Limited, is a global technology company providing services and equipment to the energy industry. It operates in the energy equipment and services industry with a focus on oilfield services. SLB's business is structured around four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company offers a wide range of products and services for hydrocarbon production, carbon management, and the integration of adjacent energy systems, including field development, reservoir interpretation, well construction, and subsurface evaluation. SLB also applies its expertise to other industries like mining and road construction.

SLB has a significant global presence, operating in over 100 countries with a diverse workforce. Over three-fourths of its revenue comes from international markets. Key regions include the Middle East and Asia, which have shown resilience in upstream investment, and North America, with robust revenue growth from offshore activity. The company focuses on areas like the Gulf of Mexico, Saudi Arabia, and China.

SLB has historically enjoyed a stellar reputation as the world's premier oilfield-services company. Its reputation has been influenced by its strategic shift towards digital and new energy businesses, aligning with a commitment to a sustainable future and net-zero carbon emissions by 2050. The partnership with Ormat Technologies strengthens SLB's push into clean energy. However, insider sales and news of layoffs could negatively impact public perception. The company's Q3 2025 earnings beat and its ongoing transition towards digital and production-focused solutions generally support a positive outlook.

Institutional investors and hedge funds hold a significant portion (81.99%) of SLB's stock. Major institutional owners include VANGUARD GROUP INC, PRICE T ROWE ASSOCIATES INC /MD/, STATE STREET CORP, CHARLES SCHWAB INVESTMENT MANAGEMENT INC, and GEODE CAPITAL MANAGEMENT, LLC. Ballast Advisors LLC increased its stake, while Asset Management One Co. Ltd. decreased its holdings. Insider ownership is relatively low at 1.52%.