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Schlumberger (SLB) Looking to Divest US Valves Business
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Schlumberger Limited (SLB - Free Report) is considering the divestment of a portion of its valves business in the United States.
The company is working to explore a potential divestment of the assets for more than $800 million. The assets are expected to attract other oilfield services rivals.
Schlumberger took over the to-be-divested assets during its $14.8-billion acquisition of Cameron International Corporation in 2016. No agreement has been made yet and Schlumberger could decide against a sale.
Schlumberger has been focusing on developing and advancing its digital and sustainability strategies. Early this month, it announced a partnership with water-solutions provider Gradiant Corporation to introduce sustainable technology in the production process for battery-grade lithium compounds.
The sustainability impact of the integrated Schlumberger process and Gradiant’s new solutions will be a turning point for the lithium production market. The collaboration will enable the global expansion of Gradiant’s technology in the lithium industry.
Houston, TX-based Schlumberger is a leading oilfield services company, providing services to explorers and producers across the world. The company focuses on improving its technology with changing market demand. Its decarbonization technology and customized digital integration are likely to position it to outperform its peers.
ExxonMobil is one of the leading integrated energy companies in the world. At the end of second-quarter 2022, XOM’s total cash and cash equivalents were $18.9 billion, and long-term debt was $39.5 billion. The firm has significantly lower debt exposure than other integrated majors.
ExxonMobil has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company has a Zacks Style Score of A for Growth and Momentum, and B for Value. XOM is expected to see earnings growth of 144.2% for 2022.
EQT Corp is a pure-play Appalachian explorer, which is one of the largest natural gas producers in the United States. For 2022, the company expects a free cash flow of $2.2-$2.5 billion, suggesting an increase from $934.7 million reported last year.
EQT Corp has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company has a Zacks Style Score of B for Growth. EQT is expected to see earnings growth of 369.6% in 2022.
Cactus is involved in manufacturing, designing and selling wellhead and pressure-control equipment. At the second-quarter end, Cactus had cash and cash equivalents of $311.7 million, which can provide it with immense financial flexibility. WHD has a strong balance sheet. Per the company, it had no bank debt outstanding as of Jun 30, 2022.
Cactus has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company beat the Zacks Consensus Estimate for earnings in the prior three quarters and met the same once, delivering an earnings surprise of 12.7%. WHD is expected to see earnings growth of 143% in 2022.
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Schlumberger (SLB) Looking to Divest US Valves Business
Schlumberger Limited (SLB - Free Report) is considering the divestment of a portion of its valves business in the United States.
The company is working to explore a potential divestment of the assets for more than $800 million. The assets are expected to attract other oilfield services rivals.
Schlumberger took over the to-be-divested assets during its $14.8-billion acquisition of Cameron International Corporation in 2016. No agreement has been made yet and Schlumberger could decide against a sale.
Schlumberger has been focusing on developing and advancing its digital and sustainability strategies. Early this month, it announced a partnership with water-solutions provider Gradiant Corporation to introduce sustainable technology in the production process for battery-grade lithium compounds.
The sustainability impact of the integrated Schlumberger process and Gradiant’s new solutions will be a turning point for the lithium production market. The collaboration will enable the global expansion of Gradiant’s technology in the lithium industry.
Houston, TX-based Schlumberger is a leading oilfield services company, providing services to explorers and producers across the world. The company focuses on improving its technology with changing market demand. Its decarbonization technology and customized digital integration are likely to position it to outperform its peers.
Schlumberger currently carries a Zacks Rank #2 (Buy). Some other top-ranked players in the same space are Exxon Mobil Corporation (XOM - Free Report) , EQT Corporation (EQT - Free Report) and Cactus Inc. (WHD - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
ExxonMobil is one of the leading integrated energy companies in the world. At the end of second-quarter 2022, XOM’s total cash and cash equivalents were $18.9 billion, and long-term debt was $39.5 billion. The firm has significantly lower debt exposure than other integrated majors.
ExxonMobil has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company has a Zacks Style Score of A for Growth and Momentum, and B for Value. XOM is expected to see earnings growth of 144.2% for 2022.
EQT Corp is a pure-play Appalachian explorer, which is one of the largest natural gas producers in the United States. For 2022, the company expects a free cash flow of $2.2-$2.5 billion, suggesting an increase from $934.7 million reported last year.
EQT Corp has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company has a Zacks Style Score of B for Growth. EQT is expected to see earnings growth of 369.6% in 2022.
Cactus is involved in manufacturing, designing and selling wellhead and pressure-control equipment. At the second-quarter end, Cactus had cash and cash equivalents of $311.7 million, which can provide it with immense financial flexibility. WHD has a strong balance sheet. Per the company, it had no bank debt outstanding as of Jun 30, 2022.
Cactus has witnessed upward earnings estimate revisions for 2022 and 2023 in the past 30 days. The company beat the Zacks Consensus Estimate for earnings in the prior three quarters and met the same once, delivering an earnings surprise of 12.7%. WHD is expected to see earnings growth of 143% in 2022.