SLB’s shares advanced to a 52-week high of $58.86 on Friday, extending gains following a second-quarter earnings report that exceeded market expectations.
The oilfield services provider posted adjusted earnings of $0.55 per share, surpassing the $0.51 per share forecast by analysts. Revenue totaled $8.97 billion, above the $8.67 billion estimate, as international growth and margin expansion offset regional disruptions in the Middle East. Cash generation also improved, contributing to the stock’s upward momentum.
BMO Capital raised its price target to $63 from a prior level, maintaining a positive outlook on SLB’s operational performance. Stifel set a $64 target with a Buy rating, citing continued confidence in the company’s growth trajectory. The stock was trading at $59.06 at midday, roughly 0.97% below its 52-week peak.
Year-to-date gains reached 51.04%, while the 12-month total return stood at 59.87%, reflecting strong investor sentiment. Analysts anticipate third-quarter 2026 revenue growth of 3-4%, though some caution remains about valuation. InvestingPro’s AI-driven analysis flagged SLB as among the most overvalued stocks relative to its fair value estimate.
The company’s performance has been supported by broad international demand, though geopolitical risks in key regions continue to pose challenges to sustained growth.
