SLB : Acceleration of cash = sustained shareholder returns
>Outperform recommendation maintained but TP adjusted to $ 65 - We reiterate our Outperform rating and we have marginally adjusted our EPS estimates as well as our target price to $ 65 (based on an 12-mth fwd P/E multiple of 14x). All told, SLB will make shareholders returns via share buybacks and dividends of close to $ 7bn for 2024-25, i.e. more than 10% of its market capitalisation. We see this as a signal of a healthy balance sheet in the context of a supercy...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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