Schlumberger : 2022 targets revised up and momentum to continue apace
>Outperform recommendation maintained - The energy security theme is a real support factor and even an accelerator for an upturn in capex in the O&G sector after several years (8 in total internationally) of underinvestment. This sharp recovery in investments will translate into strong pricing power for the services players given the risk of undercapacity. After the Q2 results publication and conference call, we are adjusting our earnings forecasts upwards by an avera...Schlumberger provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The company has four segments: Reservoir Characterization, which consists of the principal technologies involved in finding and defining hydrocarbon resources; Drilling, which consists of the principal technologies involved in the drilling and positioning of oil and gas wells; Production, which consists of the principal technologies involved in the lifetime production of oil and gas reservoirs; and Cameron, which consists of the principal technologies involved in pressure and flow control for drilling and intervention rigs, oil and gas wells and production facilities.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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