SLB’s shares advanced to a 52-week high of $58.86 on Monday, extending gains after the energy services provider reported second-quarter earnings that surpassed Wall Street forecasts.
The company posted adjusted earnings per share of $0.55, topping the $0.51 consensus estimate. Revenue reached $8.97 billion, exceeding the $8.67 billion expected by analysts. SLB cited broad international growth, margin expansion and improved cash generation as key drivers, noting that operational performance remained resilient despite regional disruptions in the Middle East.
At midday trading in New York, SLB shares were quoted at $59.06, down 0.97% from the session’s peak but still within striking distance of the annual high. The stock has gained 59.87% over the past 12 months and 51.04% year-to-date, reflecting strong investor appetite.
Analysts have raised their price targets in response to the results. BMO Capital lifted its target to $63 from a prior level, while Stifel set a new valuation of $64. Stifel maintained a Buy rating, citing confidence in SLB’s Q3 outlook and sustained operational momentum.
The company’s Q3 revenue growth is expected to range between 3% and 4%, according to market estimates. Earlier this month, InvestingPro flagged SLB as potentially overvalued relative to its fair value, placing the stock on its Most Overvalued list.
SLB’s performance underscores continued investor optimism toward energy services amid stabilizing oilfield activity and pricing dynamics.
