SLB NV (NYSE:SLB) on Friday reported second-quarter adjusted earnings and revenue above analyst expectations.

Adjusted EPS of 55 cents topped the 51-cent estimate, while revenue rose 5% to $8.972 billion, beating $8.672 billion.

SLB expects third-quarter revenue to increase 3% to 4% sequentially, with adjusted EBITDA margin expanding about 75 basis points.

A renewed Middle East escalation could reduce third-quarter revenue by roughly $150 million and adjusted EBITDA by $75 million, primarily affecting Well Construction and Reservoir Performance.

For the fourth quarter, SLB expects revenue above $10 billion and adjusted EBITDA margin near 24%, assuming continued Middle East recovery.

SLB shares slipped 0.1% to trade at $52.36 on Monday.

These analysts made changes to their price targets on SLB following earnings announcement.

  • Barclays analyst David Anderson maintained the stock with an Overweight rating and raised the price target from $64 to $67.
  • BMO Capital analyst Phillip Jungwirth maintained the stock with an Outperform rating and raised the price target from $59 to $63.
  • Susquehanna analyst Bascome Majors maintained SLB with a Positive and raised the price target from $55 to $62.
  • Evercore ISI Group analyst James West maintained the stock with an Outperform rating and raised the price target from $63 to $66.

Considering buying SLB stock? Here’s what analysts think:

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