Schlumberger ( (SLB) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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SLB shares rose after the company reported strong fourth-quarter results, with a 7% increase in adjusted earnings per share, surpassing expectations. The boost in revenue was largely due to a strategic focus on international markets, offsetting a decline in Latin American revenue with growth in the Middle East and Asia. In a show of confidence, SLB raised its dividend by 3.6% and launched a $2.3 billion share buyback program, signaling a commitment to returning value to shareholders with an aim for $4 billion by 2025. Despite mixed analyst views due to global market challenges, some remain optimistic about SLB’s growth potential in non-core areas and strategic initiatives.
More about Schlumberger
YTD Price Performance: 7.01%
Average Trading Volume: 12,153,231
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $58.03B
For further insights into SLB stock on TipRanks’ Stock Analysis page.
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