Schlumberger Limited (SLB) is an oilfield services company based in Houston, Texas. It provides services to oil and gas explorers and producers worldwide. Valued at $69.68 billion by market cap, it helps upstream energy companies locate oil and gas and drill and evaluate hydrocarbon wells. It also supports oil and gas explorers in constructing new wells and improving production from existing ones.
Shares of this leading oilfield services provider have underperformed the broader market considerably over the past year. SLB has gained 6.5% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 27.5%. In 2024, shares of SLB are down 6.6%, while the SPX is up 10% on a YTD basis.
