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Schlumberger

SLB is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions. It maintains a reputation as one of the industry's leading innovators, which has earned it dominant share in numerous end markets.

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SCHLUMBERGER ORD

Whales with a lot of money to spend have taken a noticeably bullish stance on Schlumberger.
Looking at options history for Schlumberger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) we detected 29 trades.
If we consider the specifics of each trade, it is accurate to state that 51% of the investors opened trades with bullish expectations and 44% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $200,361 and 25, calls, for a total amount of $1,344,243.
<h3>Projected Price Targets</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $52.5 for Schlumberger over the last 3 months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Schlumberger's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Schlumberger's significant trades, within a strike price range of $35.0 to $52.5, over the past month.
<h3>Schlumberger 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727809295_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SLB</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>10/11/24</td>
<td>$0.41</td>
<td>$0.35</td>
<td>$0.41</td>
<td>$45.00</td>
<td>$253.2K</td>
<td>358</td>
<td>10.2K</td>
</tr>
<tr>
<td>SLB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>11/15/24</td>
<td>$0.76</td>
<td>$0.67</td>
<td>$0.76</td>
<td>$47.50</td>
<td>$228.0K</td>
<td>6.2K</td>
<td>66</td>
</tr>
<tr>
<td>SLB</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>10/18/24</td>
<td>$0.72</td>
<td>$0.71</td>
<td>$0.72</td>
<td>$41.00</td>
<td>$83.5K</td>
<td>166</td>
<td>925</td>
</tr>
<tr>
<td>SLB</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$0.62</td>
<td>$0.57</td>
<td>$0.57</td>
<td>$52.50</td>
<td>$74.0K</td>
<td>7.5K</td>
<td>1.3K</td>
</tr>
<tr>
<td>SLB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>11/15/24</td>
<td>$2.89</td>
<td>$2.88</td>
<td>$2.88</td>
<td>$42.50</td>
<td>$57.6K</td>
<td>5.4K</td>
<td>1.6K</td>
</tr>
</tbody>
</table>

<h3>About Schlumberger</h3>
SLB is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions. It maintains a reputation as one of the industry's leading innovators, which has earned it dominant share in numerous end markets.
In light of the recent options history for Schlumberger, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Schlumberger's Current Market Status</h3>
<ul>
<li>With a trading volume of 10,233,041, the price of SLB is up by 2.94%, reaching $43.19.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 17 days from now.</li>
</ul>
<h3>Expert Opinions on Schlumberger</h3>
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $58.1.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; Reflecting concerns, an analyst from DBS Bank lowers its rating to Buy with a new price target of $64. 
&#x2A; Maintaining their stance, an analyst from UBS continues to hold a Buy rating for Schlumberger, targeting a price of $57. 
&#x2A; Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on Schlumberger with a target price of $60. 
&#x2A; An analyst from Morgan Stanley has decided to maintain their Overweight rating on Schlumberger, which currently sits at a price target of $60. 
&#x2A; An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Schlumberger, which currently sits at a price target of $49. 
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Schlumberger with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

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Decoding Schlumberger's Options Activity: What's the Big Picture?

JP Morgan analyst Arun Jayaram maintains Schlumberger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) with a Overweight and lowers the price target from $64 to $60.

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JP Morgan Maintains Overweight on Schlumberger, Lowers Price Target to $60

WIIM

SLB shares are trading higher after the company announced the joining of forces with ADNOC Drilling and Patterson-UTI to accelerate the UAE's unconventional oil program.

On Monday, Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) disclosed the formation of a joint venture (JV) with ADNOC Drilling Company and Patterson-UTI Energy, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTEN#NASDAQ">PTEN</a>) called <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b41093343/slb-and-adnoc-drilling-partner-for-unconventional-oil-and-gas-development" rel="noreferrer noopener">Turnwell Industries LLC OPC</a>.
The JV aims to accelerate the UAE&#8217;s unconventional oil and gas program. It targets the completion of 144 wells by 2025, with the potential for additional wells in a second phase.
ADNOC Drilling will hold a 55% stake, with SLB and Patterson-UTI holding 30% and 15% stakes in the JV. SLB will provide drilling, completion services, project management, and digital solutions.
This deal is expected to enable the companies to leverage cutting-edge innovations in AI, smart drilling design, completions engineering, and production solutions.
Tarek Rizk, SLB&#8217;s president for the Middle East and North Africa region, said, &#8220;We are proud to join forces with ADNOC Drilling in this strategic partnership that demonstrates SLB&#8217;s leading position in the region deploying innovative digital, drilling and completion technologies in developing unconventional energy resources.&#8221;&nbsp;
&#8220;UAE&#8217;s unconventional energy assets hold a promising future, and we are very much looking forward to elevating their performance in a safe and sustainable way.&#8221;
Abdulrahman Abdulla Al Seiari, chief executive officer, ADNOC Drilling stated, &#8220;Turnwell will not only unlock the immense potential of the UAE&#8217;s world-class unconventional energy resources but will also set new benchmarks for the global energy industry. We are proud to lead the way in responsibly shaping the future of energy, both in the UAE and beyond.&#8221;
Last month, Schlumberger partnered with NVIDIA to create generative AI solutions focusing on subsurface exploration and <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40939729/energy-meets-ai-schlumberger-teams-up-with-nvidia-to-supercharge-industry-efficiency" rel="noreferrer noopener">data management in energy</a>.
Investors can gain exposure to SLB via&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) and&nbsp;IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: SLB shares are down 0.74% at $41.64 premarket at the last check Tuesday.
Image via Shutterstock
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PTEN

SLB, ADNOC Drilling, Patterson-UTI Join Forces To Accelerate UAE's Unconventional Oil Program

PATTERSON-UTI ENERGY, INC. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PTEN#NASDAQ">PTEN</a>) ("Patterson-UTI" or "the Company") today announced that its subsidiary, Patterson-UTI TW Holdings LLC, has signed the previously announced joint venture agreement with a subsidiary of ADNOC Drilling, the largest national drilling contractor in the Middle East and the sole provider of drilling rig services in the Emirate of Abu Dhabi. As part of the agreement, Patterson-UTI will hold a 15% minority equity interest in Turnwell Industries LLC OPC ("Turnwell"), a company recently formed by ADNOC Drilling. Turnwell has been awarded a contract to drill and complete 144 unconventional wells for Abu Dhabi National Oil Company (ADNOC). The ADNOC Drilling subsidiary will hold a 55% majority stake, while SLB will hold a 30% interest.
In exchange for the minority equity interest, Patterson-UTI will provide unconventional drilling and completion expertise to Turnwell, as well as a limited cash contribution to fund our portion of working capital.

Global

Patterson-UTI and ADNOC Drilling Sign Agreements To Formalize The Previously Announced JV In The UAE; Patterson-UTI Will Hold A 15% Minority Equity Interest In Turnwell Industries LLC OPC; The ADNOC Drilling subsidiary Will Hold A 55% Majority Stake, While SLB Will Hold A 30% Interest

Agreement will accelerate the initial scope of 144 unconventional wells for delivery by Q4 2025 with potential for significant number of additional wells in the second phase

SLB Partners With ADNOC Drilling For Unconventional Oil And Gas Development

CEIX

CIVI

CTRA

EQNR

FANG

SHEL

VIST

Shares of energy companies are trading higher amid a rise in oil after the Israeli military carried out an airstrike on Hezbollah headquarters in Beirut, Lebanon. Also, Israeli Prime Minister Netanyahu, in a speech to the UN, mentioned Hezbollah and said his country has "every right to remove this threat and return our citizens to their homes safely."

BROG

WFRD

Shares of oil and gas companies are trading lower, possibly as the sector pulls back after rallying on Tuesday due to China stimulus efforts and Middle East tension. Also, a report suggests that rival factions in Libya have resumed talks.

High-rolling investors have positioned themselves bullish on Schlumberger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>), and it's important for retail traders to take note. 
\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in SLB often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 12 options trades for Schlumberger. This is not a typical pattern.
The sentiment among these major traders is split, with 66% bullish and 25% bearish. Among all the options we identified, there was one put, amounting to $82,560, and 11 calls, totaling $1,578,938.
<h3>Predicted Price Range</h3>
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $55.0 for Schlumberger over the last 3 months. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Schlumberger options trades today is 1331.55 with a total volume of 6,267.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Schlumberger's big money trades within a strike price range of $30.0 to $55.0 over the last 30 days.
<h3>Schlumberger Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1727288173_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>SLB</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$2.37</td>
<td>$2.23</td>
<td>$2.37</td>
<td>$55.00</td>
<td>$1.1M</td>
<td>1.2K</td>
<td>5.0K</td>
</tr>
<tr>
<td>SLB</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/18/26</td>
<td>$11.7</td>
<td>$11.4</td>
<td>$11.7</td>
<td>$35.00</td>
<td>$90.0K</td>
<td>137</td>
<td>77</td>
</tr>
<tr>
<td>SLB</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>09/19/25</td>
<td>$6.5</td>
<td>$6.45</td>
<td>$6.45</td>
<td>$45.00</td>
<td>$82.5K</td>
<td>403</td>
<td>128</td>
</tr>
<tr>
<td>SLB</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$13.75</td>
<td>$13.7</td>
<td>$13.75</td>
<td>$30.00</td>
<td>$68.7K</td>
<td>145</td>
<td>50</td>
</tr>
<tr>
<td>SLB</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$10.95</td>
<td>$10.65</td>
<td>$10.75</td>
<td>$35.00</td>
<td>$48.3K</td>
<td>531</td>
<td>45</td>
</tr>
</tbody>
</table>

<h3>About Schlumberger</h3>
SLB is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions. It maintains a reputation as one of the industry's leading innovators, which has earned it dominant share in numerous end markets.
After a thorough review of the options trading surrounding Schlumberger, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
<h3>Present Market Standing of Schlumberger</h3>
<ul>
<li>With a volume of 6,851,609, the price of SLB is down -2.5% at $41.91. </li>
<li>RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.</li>
<li>Next earnings are expected to be released in 23 days.</li>
</ul>
<h3>What The Experts Say On Schlumberger</h3>
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $57.625.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22bz20&amp;utm_source=benzinga-insights">Click here for access</a>. 
&#x2A; An analyst from UBS persists with their Buy rating on Schlumberger, maintaining a target price of $57. 
&#x2A; Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on Schlumberger with a target price of $60. 
&#x2A; An analyst from DBS Bank downgraded its action to Buy with a price target of $64. 
&#x2A; An analyst from Wells Fargo persists with their Equal-Weight rating on Schlumberger, maintaining a target price of $49. 
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Schlumberger, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

A Closer Look at Schlumberger's Options Market Dynamics

Wells Fargo analyst Chris Vole maintains Schlumberger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) with a Equal-Weight and lowers the price target from $53 to $49.

Wells Fargo Maintains Equal-Weight on Schlumberger, Lowers Price Target to $49

Blue Line Capital&#8217;s&nbsp;Bill Baruch&nbsp;is trimming Tesla Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) stock and putting the money to work <a href="https://www.benzinga.com/topic/energy-stocks">in energy names</a>.
What Happened: Tuesday on CNBC&#8217;s &#8220;Fast Money Halftime Report,&#8221; Baruch announced that he cut back positions in Tesla and Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) and used the funds to add to positions in Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Kinder Morgan Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KMI#NYSE">KMI</a>).
Tesla shares are up more than 20% over the past month and just turned positive for the year this week. The sentiment around Tesla has been &#8220;pretty poor,&#8221; but Baruch is beginning to notice a shift as the EV maker heads into its upcoming robotaxi event on Oct. 10.
Baruch told CNBC that he&#8217;s been adding to his <a href="http://benzinga.com/quote/tsla">Tesla position</a> on weakness. Given the recent surge in shares, Tesla grew too large in his portfolio so he decided to trim about 25% of his stake, he said. Tesla is also battling technical resistance around current levels, which made taking profit an even easier decision, he added. 
Check This Out: <a href="https://www.benzinga.com/news/24/09/41000762/tesla-says-model-y-is-the-best-selling-ev-in-norway-with-over-60k-units-on-road">Tesla Says Model Y Is The Best-Selling EV In Norway With Over 60K Units On Road</a>
Baruch also sold out of his <a href="http://benzinga.com/quote/slb">Schlumberger</a> position for a loss in order to use those losses against some of his gains in Tesla. 
&#8220;SLB was really a tax harvesting loss to that Tesla profit trade. And what we&#8217;re doing is reallocating these monies to energy,&#8221; Baruch said. 
Why It Matters: The Blue Line Capital founder told CNBC that 13% of his firm&#8217;s portfolio is weighted to <a href="https://www.benzinga.com/topic/energy">energy</a>. That didn&#8217;t stop him from adding to Exxon Mobil.
Baruch noted that managed money in <a href="https://www.benzinga.com/topic/wti-crude-oil">Crude oil futures</a> has gone net short over the last month or so. When negativity starts to pile up, he suggested that a bottom is usually near.
&#8220;Exxon is really cheap. We owned Pioneer Natural Resources before this <a href="https://www.benzinga.com/markets/equities/24/08/40335015/exxon-mobil-reduces-staff-after-pioneer-merger-report">acquisition</a> and we really like the synergies there. I think Exxon has really outperformed within the space,&#8221; Baruch said. 
Baruch also increased his exposure to Kinder Morgan as he believes more and more people are going to start talking about the <a href="http://benzinga.com/topic/ai">energy requirements of AI.</a>
&#8220;Power is going to be a big thing with AI. We really believe in natural gas and the movement, logistically, getting natural gas in order to generate power. Kinder Morgan is going to be right in the thick of that,&#8221; Baruch said. 
TSLA, SLB, XOM, KMI Price Action: At publication time, Tesla shares were up 1.23% at $253.08, Schlumberger shares were up 0.41% at $43.08, Kinder Morgan shares were up 0.07% at $22.21 and Exxon Mobil shares were down 0.15% at $117.19, per <a href="http://pro.benzinga.com">Benzinga Pro</a>.
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Photo: courtesy of Tesla.

Trading Ideas

TSLA

Bill Baruch Trims Tesla Stock, Buys Pair Of Energy Names: 'Power Is Going To Be A Big Thing With AI'

<a href="https://press.aboutamazon.com/2024/9/amazon-and-aws-expand-partnership-with-slb-to-accelerate-digital-and-decarbonization" title="https://press.aboutamazon.com/2024/9/amazon-and-aws-expand-partnership-with-slb-to-accelerate-digital-and-decarbonization">https://press.aboutamazon.com/2024/9/amazon-and-aws-expand-partnership-with-slb-to-accelerate-digital-and-decarbonization</a>

AMZN

Amazon And AWS Expand Partnership With SLB Through Multi-Year Agreement To Explore Low Carbon Technology Deployment And Accelerate Digital Decarbonization

KLXE

Shares of oil and gas companies are trading higher amid a rise in the price of oil after the Fed cut rates, which could lift the demand outlook. Also, ongoing tension in the Middle East could increase supply

Schlumberger N.V.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) shares gained today after the energy giant joined forces with NVIDIA Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) to unleash <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40935220/slb-and-nvidia-collaborate-to-develop-generative-ai-solutions-for-the-energy-sector" rel="noreferrer noopener">groundbreaking generative AI solutions.</a>
The companies plan to develop generative AI solutions for the energy industry. With the development, Schlumberger will focus on areas such as subsurface exploration, production operations, and data management.
The partnership speeds up the creation and implementation of industry-specific generative AI foundation models across Schlumberger&#8217;s global platforms, including the Delfi digital platform and the Lumi data and AI platform. Schlumberger&#8217;s Lumi data and AI platform, the <a target="_blank" href="https://www.slb.com/products-and-services/delivering-digital-at-scale/artificial-intelligence-solutions#:~:text=The%20Lumi%20data%20and%20AI,challenges%20and%20accelerates%20digital%20transformation." rel="noreferrer noopener">domain-specific solution</a> for the energy sector, is designed to transform raw data from various sources into trusted insights.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40899601/energy-gets-ai-boost-schlumbergers-lumi-platform-to-power-next-gen-digital-transformation" rel="noreferrer noopener">Energy Gets AI Boost: Schlumberger&#8217;s Lumi Platform To Power Next-Gen Digital Transformation</a>
&#8220;Our collaboration with NVIDIA will accelerate the creation of tailored generative AI solutions, enabling our customers to optimize operations, enhance efficiency and minimize their overall footprint,&#8221; said Olivier Le Peuch, chief executive officer, Schlumberger.
Schlumberger and NVIDIA&#8217;s partnership started in 2008, focusing on the groundbreaking application of graphics processing units (GPUs).
Now, with the latest deal, Schlumberger will leverage NVIDIA NeMo, which is part of the NVIDIA AI Enterprise software suite, to develop tailored generative AI that can operate in data centers, on any cloud, or at the edge.
&#8220;Custom models created by SLB leveraging NVIDIA NeMo will provide the industry&#8217;s scientists and engineers unprecedented insight to speed their work in optimizing the energy supplies today and unlocking the clean energy innovations of tomorrow,&#8221;&nbsp;said Jensen Huang, founder and CEO of NVIDIA.
This initiative aims to fully harness the potential of generative AI for energy domain professionals to generate greater value and reduce carbon emissions.
According to a research <a target="_blank" href="https://www.kingsresearch.com/artificial-intelligence-in-energy-market-849" rel="noreferrer noopener">report </a>by Kings Research, the global Artificial Intelligence in Energy Market is projected to reach $46.188 billion by 2031, growing at a CAGR of 17.18% from 2024 to 2031.
This rapid expansion might underscore the potential impact of Schlumberger and NVIDIA&#8217;s partnership in leveraging AI solutions for the energy sector.
Price Action: SLB shares are trading higher by 2.29% to $42.37 at last check Thursday, while NVDA shares are trading higher by 4.66% to $118.71.
Photo via Shutterstock
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40857832/halliburton-at-a-disadvantage-analyst-says-schlumberger-and-baker-hughes-in-better-" target="_blank" rel="noreferrer noopener">Halliburton At A Disadvantage, Analyst Says: Schlumberger And Baker Hughes &#8216;In Better Position&#8217;</a></li>
</ul>

Movers

General

NVDA

Energy Meets AI: Schlumberger Teams Up With NVIDIA To Supercharge Industry Efficiency

Working together with NVIDIA, SLB will build and optimize models to the specific needs and requirements of the data-intensive energy industry, including subsurface exploration, production operations and data management.&nbsp;

SLB, NVIDIA Partner To Develop Generative AI Solutions For The Energy Industry

DBS Bank initiates coverage on Schlumberger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) with a Buy rating and announces Price Target of $64.5.

Initiation

DBS Bank Initiates Coverage On Schlumberger with Buy Rating, Announces Price Target of $64.5

UBS analyst Amy Wong maintains Schlumberger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) with a Buy and lowers the price target from $63 to $57.

UBS Maintains Buy on Schlumberger, Lowers Price Target to $57

SLB (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/slb#NYSE">SLB</a>), an American oilfield services company, through its OneSubsea joint venture (JV), has teamed up with C-Power and Subsea7 S.A. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/subcy#OTC">SUBCY</a>) to explore innovative ocean energy solutions. The focus of this partnership is to develop a low-cost, low-carbon power source for subsea applications.
<h2>SLB OneSubsea&#39;s Integrated Solution</h2>
SLB OneSubsea, the JV backed by SLB, Aker Solutions and Subsea7, will provide an integrated subsea system, including electric actuation and wireless telemetry, to support the 18-month field test of C-Power&#39;s SeaRAY autonomous offshore power system (AOPS). This project has garnered the support of the U.S. Department of Energy, further cementing its importance in advancing renewable ocean energy technologies.
C-Power&#39;s CEO, Reenst Lesemann, emphasized the significance of the collaboration, noting that Subsea Integration Alliance partners SLB OneSubsea and Subsea7 are leaders in subsea products and services. He pointed out that both companies align with C-Power&#39;s vision for reducing the cost, complexity and carbon intensity of offshore operations through remote power generation and data communications.
<h2>SLB OneSubsea and C-Power to Conduct Field Test</h2>
The field test will be conducted at the PacWave South wave energy site offshore Newport, OR, to evaluate the long-term reliability of C-Power&#39;s SeaRAY AOPS in the challenging ocean environment. The system is aimed at powering and supporting autonomous underwater vehicles, robotics, operational equipment and satellite communications, gathering valuable data for the progress of the project.
<h2>Exploring SLB OneSubsea&#39;s Potential for Sustainable Energy</h2>
SLB noted that the joint industry project will focus on digitalization, electrification and fiber optic sensors to explore how wave energy can be integrated into subsea operations. SLB OneSubsea&#39;s CEO, Mads Hjelmeland, highlighted that collaboration and innovation are crucial for achieving significant improvements in cost and carbon efficiency, paving the way for a sustainable energy future.
In June, C-Power added Scotland&#39;s Green Marine to its Partner Engagement and Co-development program, showcasing the growing interest in advancing the SeaRAY AOPS technology for broader offshore applications.
By combining resources and expertise, SLB, Subsea7 and C-Power aim to accelerate the adoption of ocean energy solutions, which can play a pivotal role in reducing the carbon footprint of subsea operations globally.
<h2>Zacks Rank &amp; Key Picks</h2>
Currently, both SLB and SUBCY carry a Zack Rank #3 (Hold).
Investors interested in the&nbsp;energy&nbsp;sector may look at a couple of better-ranked stocks like Core Laboratories Inc.&nbsp;and VAALCO Energy, Inc., each carrying a Zacks Rank #2 (Buy) at present.
Core Laboratories, an oilfield services company, has a deep portfolio of sophisticated, proprietary products and services that positions it to take advantage of the growing maturity in the global hydrocarbon reserve base. CLB&#39;s expanding international upstream projects indicate a positive trajectory for revenues and profitability, especially as oil demand continues to rise globally.
The Zacks Consensus Estimate for CLB&#39;s 2024 EPS is pegged at $0.95. The company has a Value Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.
VAALCO Energy is an independent energy company involved in upstream business operations, with a diversified presence in Africa and Canada. Having a large inventory of drilling locations in premium Canadian Acreage, the company&#39;s production outlook seems bright.
The Zacks Consensus Estimate for EGY&#39;s 2024 EPS is pegged at $0.65. The company has a Value Score of A. It has witnessed upward earnings estimate revisions for 2024 in the past 30 days.
<a href="https://www.zacks.com/stock/news/2337003/slb-subsea7-partner-with-c-power-for-ocean-energy-solutions?cid=CS-BENZ-FT-analyst_blog|company_news_energy_sector-2337003">To read this article on Zacks.com click here.</a>

Earnings

Mid Cap

Tech

SUBCY

SLB, Subsea7 Partner With C-Power for Ocean Energy Solutions

Schlumberger (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) shares are trading higher on Tuesday. The company launched the Lumi data and AI platform, integrating advanced AI into workflows<a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40894766/slb-launches-ai-powered-lumi-platform" rel="noreferrer noopener"> across the energy value chain</a>.
The Lumi platform offers open, secure access to high-quality data across all energy domains, boosting collaboration and decision-making. It integrates the latest large language models&nbsp;(LLMs) and SLB&#8217;s domain-specific models, facilitating scalable AI adoption.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40810215/schlumbergers-breakthrough-in-lithium-production-details" rel="noreferrer noopener">Schlumberger&#8217;s Breakthrough In Lithium Production: Details</a>
The Lumi platform will be available on major cloud providers and on-premises, offering global access.
SLB&#8217;s Delfi platform will leverage Lumi&#8217;s capabilities for improved reservoir modeling, seismic interpretation, and drilling workflows, while boosting automation and efficiency for low-carbon energy operations.
The Lumi platform combines technologies from top partners with SLB&#8217;s expertise to enhance data and AI access across the energy production cycle.
Rakesh Jaggi, president, Digital and Integration, SLB, said, &#8220;Through the Lumi data and AI platform, we will liberate and contextualize data for our global customers across domains – enabling them to scale advanced AI workflows and accelerate their ongoing digital transformation.&#8221;
Investors can gain exposure to SLB via&nbsp;VanEck Oil Services ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OIH#NYSE">OIH</a>) and&nbsp;IShares U.S. Oil Equipment &amp; Services ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IEZ#NYSE">IEZ</a>).
Price Action: SLB shares are up 0.42% at $40.57 premarket at the last check Tuesday.
Read Next:
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/09/40857832/halliburton-at-a-disadvantage-analyst-says-schlumberger-and-baker-hughes-in-better-" target="_blank" rel="noreferrer noopener">Halliburton At A Disadvantage, Analyst Says: Schlumberger And Baker Hughes &#8216;In Better Position&#8217;</a></li>
</ul>

Energy Gets AI Boost: Schlumberger's Lumi Platform To Power Next-Gen Digital Transformation

The platform integrates advanced artificial intelligence (AI) capabilities&mdash;including generative AI&mdash;with workflows across the energy value chain.

SLB Launches Lumi Data And AI Platform

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Owing to robust global demand, continuous OPEC supply cuts, and advancing economic growth, the oil and gas market is experiencing solid growth. Hence, investing in fundamentally solid oil and gas stocks Schlumberger (SLB), Cenovus Energy (CVE), and APA (APA), which are poised for high upside, could be ideal. Read more... Global oil and gas industry prospects appears promising, with demand in developing economies across the globe and geopolitical tensions stirring prices constantly. Also, the growing population worldwide, urbanization, and expanding use of oil and gas are opening new opportunities for market growth.
Against this backdrop, it could be wise to invest in fundamentally strong oil &amp; gas stocks Schlumberger Limited (<a href="https://stocknews.com/stock/SLB/">SLB</a>), Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>), and APA Corporation (<a href="https://stocknews.com/stock/APA/">APA</a>) poised for solid upside.
Recently, the <a href="https://www.opec.org/opec_web/en/press_room/7377.htm">OPEC launched its 2024 OPEC World Oil Outlook (WOO)</a>. Under the publication, the timeframe has been extended to 2050, where energy demand is set to increase by 24%, and oil demand is expected to reach 120.1 million barrels a day by the end of the forecast period.
According to Reuters, the raised forecast for world oil demand in the medium and long term is <a href="https://www.reuters.com/business/energy/opec-rolls-out-global-oil-outlook-2050-sees-no-peak-demand-2024-09-24/">driven by developing world growth</a> led by India, Africa, and the Middle East and a slower shift to electric vehicles and cleaner fuels.
Also, in the first half of 2024, the <a href="https://www.iea.org/reports/gas-market-report-q3-2024">natural gas market</a> grew at a rate above the historical average. The demand in the market was primarily fueled by higher gas use in industry and is increasingly concentrated in Asia. With geopolitical tensions increasing price volatility, natural gas demand is forecast to grow 2.5% in 2024, driven by fast-growing Asian markets.
In the second quarter, a total of 240 deals were announced, having a disclosed value of $67 billion, representing strong <a href="https://www.kroll.com/en/insights/publications/valuation/global-oil-and-gas-m-and-a-outlook-q2-2024">global oil and gas M&amp;A activities</a>.
Besides, the <a href="https://www.eia.gov/outlooks/steo/report/global_oil.php">Brent crude oil spot price averaged $82</a> per barrel (b) during August. This marked the eighth consecutive month where the prices averaged between $80/b and $90/b. Also, the EIA further expects prices to rise and remain in a high range owing to the ongoing withdrawals from global oil inventories stemming from OPEC+ production cuts.
Considering the encouraging industry trends, let's delve into the fundamentals of solid oil &amp; gas stocks such as SLB, CVE, and APA.
Schlumberger Limited (<a href="https://stocknews.com/stock/SLB/">SLB</a>)
SLB engages in the provision of technology for the energy industry globally. The company operates through four divisions: Digital &amp; Integration, Reservoir Performance, Well Construction, and Production Systems. It offers field development and hydrocarbon production, carbon management, and integration of adjacent energy systems.
On September 19, SLB and NVIDIA collaborated to develop generative AI solutions for the energy industry. The strategic collaboration accelerates the development and deployment of industry-specific generative AI foundation models across SLB's global platforms, including its Delfi&#x2122; digital platform and Lumi&#x2122; data and AI platform, by leveraging NVIDIA NeMo&#x2122;.
On September 17, SLB launched the Lumi&#x2122; data and AI platform, which integrates advanced artificial intelligence (AI) capabilities, including generative AI with workflows across the energy value chain. The platform accelerates advanced data and AI capabilities at scale for the company's customers across the energy industry.
During the second quarter that ended June 30, 2024, SLB's revenue increased 12.8% year-over-year to $9.14 billion. The company's income before taxes grew 9.9% from the year-ago value to $1.42 billion. Net income attributable to SLB and EPS came in at $1.11 billion and $0.77, up 7.6% and 6.9% from the prior year's quarter, respectively.
Furthermore, the company's <a href="https://www.investopedia.com/terms/e/ebitda.asp">adjusted EBITDA</a> rose 16.6% year-over-year to $2.29 billion.
Analysts expect SLB's EPS for the third quarter (ending September 2024) to grow 14.7% year-over-year to $0.89, while its revenue of $9.35 billion for the same period indicates a 12.6% improvement year-over-year. Moreover, the company topped the consensus EPS estimates in all four trailing quarters.
Shares of SLB have decreased 10.5% over the past month to close the last trading session at $41.17. Wall Street analysts expect the stock to hit $65.77 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/slb/forecast">upside of 59.75%</a>.
SLB's solid fundamentals are reflected in its <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a>. The POWR Ratings are calculated by considering 118 different factors, each weighted to an optimal degree.
SLB has a B grade for Growth. It is ranked #20 out of 49 stocks in the <a href="https://stocknews.com/category/energy-services/">Energy - Services</a> industry.
In addition to the POWR Ratings we've stated above, we also have SLB ratings for Quality, Value, Momentum, Sentiment, and Stability. Get all SLB ratings <a href="https://stocknews.com/stock/SLB/">here</a>.
Cenovus Energy Inc. (<a href="https://stocknews.com/stock/CVE/">CVE</a>)
Headquartered in Calgary, Canada, CVE develops, produces, refines, transports, and markets crude oil, natural gas, and refined petroleum products in Canada and internationally. The company operates in Oil Sands; Conventional; Offshore; Canadian Refining; and U.S. Refining segments.
On August 1, CVE's Board of Directors declared a quarterly base dividend of $0.18 per common share, payable on September 27, 2024, to shareholders of record as of September 13, 2024.
The Board also declared a quarterly dividend on each of the cumulative redeemable first preferred shares. The dividend is as follows: $0.16 on Series 1, $0.41 on Series 2, $0.29 on Series 3, $0.29 on Series 5, and $0.25 on Series 7, to be paid on October 1, 2024 to shareholders of record as of September 13, 2024.
CVE's annual dividend of $0.63 translates to a yield of 3.72% at the current share price. Its four-year average dividend yield is 1.45%. Further, the company's dividend payouts have increased at a CAGR of 123.5% over the past three years.
During the second quarter that ended June 30, 2024, CVE's revenues increased 21.7% year-over-year to C$14.88 billion ($11.04 billion). Its net earnings came in at C$1.00 billion ($742.26 million) and C$0.53 per share, up 15.5% and 20.4% from the prior year's quarter, respectively.
In addition, its adjusted funds flow rose 24.3% and 28.6% year-over-year to C$2.36 billion ($1.75 billion) and C$1.26 per share, respectively. The company's total assets stood at C$56 billion ($41.57 billion) as of June 30, 2024, compared to C$53.91 billion ($40.15 billion) as of December 31, 2023.
As per the company's revised 2024 corporate guidance, CVE expects total upstream production between 785,000 BOE/d and 810,000 BOE/d, up 7,500 BOE/d at the midpoint. Its total downstream throughput is expected to be 640,000 bbls/d to 670,000 bbls/d, which is up by 5,000 bbls/d at the midpoint.
Street expects CVE's revenue and EPS for the fourth quarter (ending December 2024) to increase 8% and 118.3% year-over-year to $10.53 billion and $0.60, respectively. Furthermore, the company surpassed the consensus revenue estimates in three of the trailing four quarters.
CVE's stock has declined 16.6% over the past month to close the last trading session at $16.29. Wall Street analysts expect the stock to hit $24.36 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/cve/forecast">49.54% upside</a>.
CVE's bright prospects are reflected in its POWR Ratings. The stock has an overall rating of B, equating to a Buy in our proprietary rating system.
The stock has an A grade for Quality. CVE is ranked #13 among 81 stocks in the <a href="https://stocknews.com/category/energy-oil-gas/">Energy – Oil &amp; Gas</a> industry.
<a href="https://stocknews.com/stock/CVE/">Click here</a> to access CVE's ratings for Value, Momentum, Growth, Stability, and Sentiment.
APA Corporation (<a href="https://stocknews.com/stock/APA/">APA</a>)
APA is an independent energy company that explores, develops, and produces natural gas, crude oil, and natural gas liquids. The company has oil and gas operations in the United States, Egypt, and the North Sea. It also has exploration and appraisal activities in Suriname, and holds interests in projects located in Uruguay and internationally.
On September 25, APA and Palantir Technologies Inc. (PLTR), a leading builder of artificial intelligence systems, expanded their partnership through a multi-year, multi-million-dollar enterprise agreement, which was initially signed in 2021.
The agreement is built on the work deployed across APA's global portfolio over the past three years, and it introduces new artificial intelligence capabilities through Palantir's Artificial Intelligence Platform (AIP) software. This collaboration will improve operational efficiency and business visibility across APA's global portfolio.
Also, on April 1, APA acquired Callon Petroleum Company (CPE). The strategic acquisition bodes well with APA's operations as Callon's assets bring scale to its Delaware position and balance its overall Permian asset base.
APA's total revenues came in at $2.54 billion during the second quarter that ended June 30, 2024, indicating a 41.6% year-over-year growth. The company's adjusted earnings were $434 million and $1.17 per share, up 64.4% and 37.6% from the prior year's quarter, respectively. Also, its adjusted EBITDAX increased 29.5% year-over-year to $1.58 billion.
As of June 30, 2024, APA's total assets stood at $20.19 billion, compared to $15.24 billion as of December 31, 2023.
Street expects APA's revenue for the first quarter (ending March 2025) to increase 19.4% year-over-year to $2.27 billion, and its EPS for the same quarter is expected to grow 27.2% year-over-year to $0.99. Also, its revenue and EPS for the fiscal year 2025 are expected to increase 0.2% and 5.2% year-over-year to $9.25 billion and $4.36, respectively.
APA's stock has plunged 20.1% over the past month to close the last trading session at $23.15. Wall Street analysts expect the stock to hit $34.89 in the near term, indicating a potential <a href="https://www.tipranks.com/stocks/apa/forecast">upside of 50.7%</a>.
APA's POWR Ratings reflect its robust outlook. The stock has a B grade for Value and Quality. Within the Energy – Oil &amp; Gas industry, APA is ranked #26 among the 81 stocks.
<a href="https://stocknews.com/stock/APA/">Click here</a> to access additional ratings of APA for Sentiment, Stability, Growth, and Momentum.
What To Do Next?
Get your hands on this special report with 3 low priced companies with tremendous upside potential even in today's volatile markets:
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<hr />
SLB shares were trading at $42.29 per share on Friday afternoon, up $1.12 (+2.72%). Year-to-date, SLB has declined -17.21%, versus a 21.35% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Rjkumari Saxena</h2> <img src='https:/wp-content/uploads/2024/04/Rajkumari-Saxena_Image-1.jpeg' style="float:left; padding:5px;width:125px;">Rajkumari started her career as a writer but gradually shifted her focus to financial journalism, leveraging her educational background in Commerce. Fascinated by the interplay of business and economic shifts in equities, she aspires to evolve as an analyst. With a knack for simplifying complex financial concepts, her mission is to empower investors with insights that lead to profitable decisions.<a href="https://stocknews.com/authors/?author=rajkumari-saxena">More...</a>The post <a href=https://stocknews.com/news/slb-cve-apa-3-oil-gas-stocks-with-high-upside-potential/>3 Oil & Gas Stocks With High Upside Potential</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

3 Oil & Gas Stocks With High Upside Potential

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ACIW

ALLE

DRIP

DXCM

GUSH

MRNA

PLTR

SMCI

TRGP

USOI

Press Releases

SLB and Aker Carbon Capture joint venture awarded FEED contract by CO280 for large-scale carbon removal project

SLB OneSubsea awarded major contract by Petrobras for two ultra-deepwater projects offshore Brazil

SLB and Palo Alto Networks expand collaboration to strengthen cybersecurity for the energy sector

SLB and Palo Alto Networks Expand Collaboration to Strengthen Cybersecurity for the Energy Sector

SLB achieves breakthrough results in sustainable lithium production

Commodities

ILiAD DLE Tech Operating at Scale at SLB Project

SLB launches AI-powered Lumi platform

SLB and NVIDIA collaborate to develop generative AI solutions for the energy sector

SLB and ADNOC Drilling Partner for Unconventional Oil and Gas Development

SLB Announces Third-Quarter 2024 Results Conference Call

PANW

ProFrac Holding Corp. - Class A Common Stock

ProFrac Holding

Atlas Energy Solutions

Archrock

Baker Hughes

ChampionX

TechnipFMC

Halliburton

Helix Energy Solutions Group, Inc. Common Stock

Helix Energy Solns Gr

Innovex International

Kodiak Gas Services

Liberty Energy

Newpark Resources

Oceaneering International, Inc. Common Stock

Oceaneering International

ProPetro Holding

Solaris Energy Infrastructure, Inc. Class A Common Stock

Solaris Energy

Tidewater

Tenaris

Tetra Technologies

USA Compression Partners, LP Common Units Representing Limited Partner Interests

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