Schlumberger : Bright prospects
>Outperform rating and target price unchanged at $ 44.5 - Following the Q3 results publication, we have revised marginally upwards our EPS forecasts. The share price has gained 57.6% YTD, i.e. an outperformance versus the OSX, its benchmark index (+48%) while at the same time Brent has gained 66% and WTI 75%. Amid improving sector momentum, Schlumberger should show average annual EPS growth of 32% over 2021-2023, thus sharply outperforming sector capex, which is expec...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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