BofA Securities analyst Saurabh Pant maintains $Schlumberger (SLB.US)$ with a buy rating, and adjusts the target price from $58 to $54.
According to TipRanks data, the analyst has a success rate of 40.0% and a total average return of -2.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Schlumberger (SLB.US)$'s main analysts recently are as follows:
Weakening global oil demand growth alongside an ample supply is anticipated to present challenges in 2025 for oil prices and the selection of Oilfield Services stocks. It is believed that the global oil supply/demand situation necessitates a rapid flattening of U.S. Land oil production. Consequently, there has been an average reduction of 6% in price targets across the sector.
The firm is revising its U.S. activity projections for the latter half of 2024 and for 2025, tempering international growth expectations for the same period, and subsequently adjusting estimates for its tracked oilfield services companies. The expectation is now for approximately flat U.S. activity through 2025, with a general view that there are 'limited near-term catalysts for stocks' in the sector, aside from 'robust' free cash flow and cash distributions to shareholders.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
