5 Important Energy Stocks Making Moves After Earnings

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1. Schlumberger Limited (NYSE:SLB)

Number of Hedge Fund Holders: 58

Shares of Schlumberger Limited (NYSE:SLB) rose for two straight days after beating second-quarter expectations on Friday, July 22, 2022. The oilfield services giant benefitted from the elevated demand for its services in the quarter.

Schlumberger Limited (NYSE:SLB) reported adjusted earnings of 50 cents per share, compared to 30 cents per share in the same period last year. Revenue for the quarter also climbed 20 percent versus last year to $6.8 billion. The results exceeded the expectations of 39 cents per share for earnings and $6.14 billion for revenue.

In addition, Schlumberger Limited (NYSE:SLB) released its segment-wise sales results. Revenue from the Digital & Integration division jumped 17 percent to $955 million, while Reservoir Performance revenue rallied 19 percent to $1.33 billion in the quarter. In comparison, Well Construction revenue climbed 27 percent to $2.69 billion, and Production Systems revenue rose 13 percent to $1.89 billion.

Looking forward, Schlumberger Limited (NYSE:SLB) now expects its full-year revenue to grow in the high-teens percentage versus its previous projection of mid-teens percentage growth.

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