SLB (NYSE:SLB) Hits New 1-Year High - Here's What Happened

Key Points

• SLB reached a new 52-week high, trading near $59.87 after previously closing at $57.33, supported by optimism surrounding its growth and diversification strategy.
• SLB agreed to acquire Kelvion for approximately $3.4 billion in cash plus $700 million of assumed debt, expanding its data-center thermal-management business and exposure to AI-related infrastructure spending.
• Analysts maintain a generally positive view, with a consensus “Moderate Buy” rating and an average price target of $61.35; however, investors remain attentive to acquisition integration, debt, geopolitical and oilfield-service risks.

SLB Limited (NYSE:SLB - Get Free Report) hit a new 52-week high on Monday . The stock traded as high as $59.78 and last traded at $59.8740, with a volume of 2163895 shares traded. The stock had previously closed at $57.33.

SLB News Summary

Here are the key news stories impacting SLB this week:

• Positive Sentiment: Major data-center acquisition: SLB agreed to acquire Kelvion, a global provider of thermal-management and heat-exchange technologies, for approximately $3.4 billion in cash and the assumption of about $700 million in debt. The deal strengthens SLB’s Data Center Solutions business, positioning it to benefit from AI-driven investment in power and cooling infrastructure. SLB to acquire Kelvion for $3.4 billion
• Positive Sentiment: Broader growth strategy: Analysts highlighted SLB’s efforts to combine its legacy oilfield-services operations with digital, subsea, carbon-management and data-center businesses. Recent acquisitions and diversification could reduce reliance on new-well drilling while increasing recurring and relatively capital-light revenue. SLB: A New Growth Chapter Is Just Getting Started
• Positive Sentiment: Operating momentum remains constructive: SLB’s second-quarter 2026 results reportedly showed 3% sequential revenue growth, margin expansion and strong data-center performance, despite Middle East-related headwinds. The company also reported quarterly revenue above analysts’ expectations and EPS of $0.55 versus a $0.51 consensus estimate in its latest reported results.
• Positive Sentiment: Carbon-storage and technology wins: SLB was selected as reservoir partner for Norway’s Havstjerne carbon-storage project and launched its ExaCT electrical downhole coiled-tubing control system. These developments support the company’s positioning in lower-carbon energy and advanced oilfield technology. SLB Lands North Sea Carbon Role And Launches New Downhole Control System
• Neutral Sentiment: Valuation is mixed: SLB has significantly outperformed many large energy companies over five years, but discounted-cash-flow analysis suggests potential undervaluation while earnings-based multiples indicate the stock may be closer to fair value. SLB Stock Trades At A Discount To Fair Value
• Negative Sentiment: Execution and balance-sheet risks: The Kelvion purchase is a sizable commitment, and investors may scrutinize the price, integration execution and additional debt assumed. Oilfield-service exposure and geopolitical pressures, including Middle East disruptions, remain ongoing risks.

Analyst Ratings Changes

SLB has been the topic of several recent analyst reports. Zacks Research raised SLB from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Royal Bank Of Canada reissued an "outperform" rating and set a $61.00 target price on shares of SLB in a research note on Tuesday, June 16th. Raymond James Financial dropped their price target on SLB from $62.00 to $61.00 and set an "outperform" rating on the stock in a report on Friday, July 10th. Citigroup cut their price objective on SLB from $68.00 to $63.00 and set a "buy" rating for the company in a research report on Wednesday, July 1st. Finally, UBS Group reduced their price objective on SLB from $69.00 to $66.00 and set a "buy" rating for the company in a research note on Wednesday, July 1st. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SLB currently has a consensus rating of "Moderate Buy" and an average target price of $61.35.

SLB Price Performance

The stock has a 50-day simple moving average of $49.70 and a 200 day simple moving average of $51.41. The stock has a market capitalization of $86.96 billion, a price-to-earnings ratio of 28.40, a price-to-earnings-growth ratio of 3.78 and a beta of 0.73. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a net margin of 8.53% and a return on equity of 14.05%. The firm had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter in the prior year, the business earned $0.74 EPS. The company's revenue for the quarter was up 5.0% compared to the same quarter last year. On average, equities research analysts forecast that SLB Limited will post 2.5 EPS for the current fiscal year.

SLB Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 8th. Investors of record on Wednesday, September 2nd will be paid a $0.295 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a $1.18 annualized dividend and a dividend yield of 2.0%. SLB's payout ratio is presently 57.00%.

Hedge Funds Weigh In On SLB

Hedge funds have recently bought and sold shares of the business. Brighton Jones LLC lifted its holdings in SLB by 21.4% in the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company's stock worth $253,000 after purchasing an additional 1,166 shares during the last quarter. Bison Wealth LLC bought a new stake in SLB during the fourth quarter worth approximately $238,000. Marshall Wace LLP acquired a new position in SLB during the second quarter valued at approximately $8,628,000. Nebula Research & Development LLC grew its holdings in SLB by 76.0% during the second quarter. Nebula Research & Development LLC now owns 24,373 shares of the oil and gas company's stock valued at $824,000 after purchasing an additional 10,522 shares during the last quarter. Finally, Diversify Advisory Services LLC raised its position in shares of SLB by 7.6% in the second quarter. Diversify Advisory Services LLC now owns 11,326 shares of the oil and gas company's stock valued at $373,000 after purchasing an additional 799 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

About SLB

SLB NYSE: SLB, historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB's product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.

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