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Oil service stocks (SLB, HAL etc) performed very well this year
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Schlumberger Stock Jumps as Oil Group Boosts Outlook on Exploration Growth
By Jack DentonFollow
July 22, 2022 7:21 am ET
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Shares in Schlumberger SLB –1.49% jumped Friday after the oilfield equipment and services group reported quarterly results ahead of expectations and raised its outlook amid steady growth in exploration.
Schlumberger (ticker: SLB) reported earnings per share of 67 cents on revenue of $6.8 billion in the second quarter, with sales up 20% from the same period in the year prior. The results firmly beat Wall Street’s expectations, with analysts predicting EPS of 40 cents on revenue of $6.3 billion. Schlumberger stock rose 2% in premarket trading. |
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