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Barchart Insights

1 Top Energy Stock to Watch With Boots on the Ground in Venezuela

SLB Venezuela Oil United States

Energy stock SLB (SLB) started the week today with a big advance of 5.4%, peaking above $60 at its highs of the session. Amid rising oil (CLV26) prices, SLB announced a $4.1 billion deal to bolster its data center offerings: the oilfield services company is acquiring the cooling systems company Kelvion.

I believe that the market is misreading the news. Yes, this acquisition is a different direction for oil services company SLB, and could be a dynamic new revenue stream for this former giant in the oil patch production sector.

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