Schlumberger Stock Gains Momentum After First Quarter Earnings

by admin

Schlumberger has a massive footprint. The company has been sending draft notices to its employees in Russia, in order to meet military service requirements. As a result, the stock has gained a lot of momentum after the company reported its first quarter earnings. The company also saw its EPS rise by 47%.

While SLB stock may not reach its past highs of $100, it still has plenty of room to rise. The company is positioned to benefit from the recovery in oil prices. Despite the recent decline in oil prices, drilling activity is returning. This is good news for Schlumberger, as it is a global leader in drilling services.

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