Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Schlumberger, the world’s largest oilfield services company, demonstrated its resilience and adaptability with strong financial results for the fourth quarter and full year 2023, despite the challenges posed by the energy market.</li><li>During the quarterly conference call that featured CEO Olivier Le Peuch and CFO Stephane Biguet, the company reported robust revenue growth, increased margins, and indications of a favorable outlook for 2024 and beyond.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

Schlumberger, the world’s largest oilfield services company, demonstrated its resilience and adaptability with strong financial results for the fourth quarter and full year 2023, despite the challenges posed by the energy market.During the quarterly conference call that featured CEO Olivier Le Peuch and CFO Stephane Biguet, the company reported robust revenue growth, increased margins, and indications of a favorable outlook for 2024 and beyond.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Schlumberger Limited: Advancements In New Energy Markets & 5 Other Major Drivers

Energy Transition | AI | Shifting World Order, Mint Finance

Suhas Reddy

Energy Transition | AI | Shifting World Order

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

<ul>
<li>Growth is expected to be fueled by robust performance in international markets. Management expects revenue growth for 2023 to cross 15% YoY.</li>
<li>Pretax operating margins in Q42023 to get a boost from higher year-end digital sales and seasonal product and equipment sales.</li>
<li>The analyst consensus on the stock’s growth is overwhelmingly bullish given the expectation of strong growth in international and offshore segments.</li>
</ul>


Growth is expected to be fueled by robust performance in international markets. Management expects revenue growth for 2023 to cross 15% YoY.
Pretax operating margins in Q42023 to get a boost from higher year-end digital sales and seasonal product and equipment sales.
The analyst consensus on the stock’s growth is overwhelmingly bullish given the expectation of strong growth in international and offshore segments.


[Earnings Preview] Intl. & Offshoring Markets to Drive Stunning Earnings for Schlumberger in Q423

<ul><li>Schlumberger delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus.</li><li>The strong performance was driven by high-quality global revenue, particularly in the Middle East and Asia, with offshore activity contributing to margin expansion.</li><li>Furthermore, Schlumberger's divisions, including Digital & Integration, Reservoir Performance, Well Construction, and Production Systems, contributed to the overall revenue growth and margin expansion.</li></ul>

Schlumberger delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus.The strong performance was driven by high-quality global revenue, particularly in the Middle East and Asia, with offshore activity contributing to margin expansion.Furthermore, Schlumberger's divisions, including Digital & Integration, Reservoir Performance, Well Construction, and Production Systems, contributed to the overall revenue growth and margin expansion.

Schlumberger Limited: Offshore Activity & Efficiency Moves Fueling Their Growth? – Key Drivers

<ul><li>Schlumberger had a highly successful second quarter, achieving an all-around beat with significant growth in revenue, margins, and earnings per share.</li><li>The company witnessed a 14% rise in revenue, marking the most substantial sequential revenue increase in the past ten years.</li><li>Its second-quarter growth was primarily driven by the rise in offshore activity, particularly deepwater, which supported all four divisions and led to double-digit revenue growth and expanded margins across the board.</li></ul>

Schlumberger had a highly successful second quarter, achieving an all-around beat with significant growth in revenue, margins, and earnings per share.The company witnessed a 14% rise in revenue, marking the most substantial sequential revenue increase in the past ten years.Its second-quarter growth was primarily driven by the rise in offshore activity, particularly deepwater, which supported all four divisions and led to double-digit revenue growth and expanded margins across the board.

Schlumberger NV: An Interesting Energy Transition Strategy – Key Drivers

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Over the last two weeks we discussed expectations for an oversold bounce; the bounce has continued. We believe it is possible we've seen the lows for this pause/pullback on SPX.</li>
<li>We see low probability of a meaningful correction if SPX is above 4300-4325 (1.5-year support), but would not be surprised to see another month+ of consolidation between 4325 and 4600.</li>
<li>Shorter-Term, as long as 4460 short-term support holds, we expect a test of 4600. Today we highlight several buys within Energy.</li>
</ul>


Over the last two weeks we discussed expectations for an oversold bounce; the bounce has continued. We believe it is possible we've seen the lows for this pause/pullback on SPX.
We see low probability of a meaningful correction if SPX is above 4300-4325 (1.5-year support), but would not be surprised to see another month+ of consolidation between 4325 and 4600.
Shorter-Term, as long as 4460 short-term support holds, we expect a test of 4600. Today we highlight several buys within Energy.


Bounce Continues; Small-Caps Test 3.5-Year RS Lows; Nasdaq/NYSE Breadth Improving; Buys in Energy

United States

Schlumberger Limited is an oil services company. The Company, through its subsidiaries, provides a wide range of services, including technology, project management and information solutions to the international petroleum industry as well as advanced acquisition and data processing surveys.

Schlumberger Ltd (SLB US)

Schlumberger Limited: Advancements In New Energy Markets & 5 Other Major Drivers

Schlumberger, the world’s largest oilfield services company, demonstrated its resilience and adaptability with strong financial results for the...

Baptista Research

[Earnings Preview] Intl. & Offshoring Markets to Drive Stunning Earnings for Schlumberger in Q423

Schlumberger's Q42023 performance was better than expected as its revenue grew 14% YoY to USD 8.99 billion and net profit rose 21% YoY to USD 1.24...

Mint Finance

Schlumberger Limited: Offshore Activity & Efficiency Moves Fueling Their Growth? – Key Drivers

Schlumberger delivered a mixed set of results for the previous quarter, with revenues below the analyst consensus. The strong performance was...

Baptista Research

Schlumberger NV: An Interesting Energy Transition Strategy – Key Drivers

Schlumberger had a highly successful second quarter, achieving an all-around beat with significant growth in revenue, margins, and earnings per...

Baptista Research

Bounce Continues; Small-Caps Test 3.5-Year RS Lows; Nasdaq/NYSE Breadth Improving; Buys in Energy

Expectations over the past two weeks for an oversold bounce in $SPX have played out. 4300-4325 (1.5-year support) remains solid floor, but could...

Vermilion Research