Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

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.

Equity Bottom-Up

<ul>
<li>Schlumberger’s Q1 2025 revenue is expected to drop by 7.6% QoQ, while its EPS is anticipated to fall by 19.6%, marking the lowest EPS in five quarters.</li>
<li>SLB has underperformed the S&amp;P 500, XLE, and WTI futures since 2024, pressured by weak oil prices, lower drilling activity, and rising costs from tariff-related headwinds.</li>
<li>Despite weaker return ratios in Q4 2024 and macro uncertainty, SLB maintains a “Strong Buy” consensus, backed by its global presence, digital expansion, and strong cash flow.</li>
</ul>


Schlumberger’s Q1 2025 revenue is expected to drop by 7.6% QoQ, while its EPS is anticipated to fall by 19.6%, marking the lowest EPS in five quarters.
SLB has underperformed the S&amp;P 500, XLE, and WTI futures since 2024, pressured by weak oil prices, lower drilling activity, and rising costs from tariff-related headwinds.
Despite weaker return ratios in Q4 2024 and macro uncertainty, SLB maintains a “Strong Buy” consensus, backed by its global presence, digital expansion, and strong cash flow.


[Earnings Preview] SLB Faces Downward Pressure from Weak Oil Prices and Softening Demand

<ul>
<li>Saudi Aramco’s Q4 revenue is expected to fall 2.6% QoQ but rise by 10.6% YoY, while its EPS is anticipated to drop 7.5% QoQ and 11.9% YoY.</li>
<li>With OPEC likely extending supply cuts past April 2025, Saudi Aramco has little room to raise output, leaving growth largely dependent on oil prices.</li>
<li>Aramco acquired a 25% stake in Unioil Petroleum Philippines, expanding its retail presence, and partnered with Linde and Schlumberger to develop a major CCS hub.</li>
</ul>


Saudi Aramco’s Q4 revenue is expected to fall 2.6% QoQ but rise by 10.6% YoY, while its EPS is anticipated to drop 7.5% QoQ and 11.9% YoY.
With OPEC likely extending supply cuts past April 2025, Saudi Aramco has little room to raise output, leaving growth largely dependent on oil prices.
Aramco acquired a 25% stake in Unioil Petroleum Philippines, expanding its retail presence, and partnered with Linde and Schlumberger to develop a major CCS hub.


[Earnings Preview] Aramco to Face Pressure in Q4 as Weak Oil Prices Squeeze Margins

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.

<ul><li>SLB's latest financial performance highlights a mix of operational resilience and strategic initiatives aimed at driving shareholder value.</li><li>The company reported fourth-quarter adjusted earnings per share (EPS) of $0.92, beating analyst forecasts of $0.90.</li><li>Revenue rose 3% year over year to $9.28 billion, surpassing estimates by $100 million.</li></ul>

SLB's latest financial performance highlights a mix of operational resilience and strategic initiatives aimed at driving shareholder value.The company reported fourth-quarter adjusted earnings per share (EPS) of $0.92, beating analyst forecasts of $0.90.Revenue rose 3% year over year to $9.28 billion, surpassing estimates by $100 million.

How Schlumberger (SLB) Is Redefining Oilfield Services With Digital Innovation & Shareholder Rewards!

<ul>
<li>Schlumberger’s Q4 revenue grew 3.3% YoY and beat estimates by 1.1%, while its net profit fell by 1.6% YoY but its EPS exceeded estimates by 2.5%.</li>
<li>In fiscal 2024, SLB's revenue rose 9.5% YoY, with net profit up 6.1%. Full-year revenue and EPS exceeded estimates by 0.2% and 0.1%, respectively.</li>
<li>SLB reported USD 850 million in 2024 revenue from non-oil and gas operations and expects growth from these segments to outpace core business growth in 2025.</li>
</ul>


Schlumberger’s Q4 revenue grew 3.3% YoY and beat estimates by 1.1%, while its net profit fell by 1.6% YoY but its EPS exceeded estimates by 2.5%.
In fiscal 2024, SLB's revenue rose 9.5% YoY, with net profit up 6.1%. Full-year revenue and EPS exceeded estimates by 0.2% and 0.1%, respectively.
SLB reported USD 850 million in 2024 revenue from non-oil and gas operations and expects growth from these segments to outpace core business growth in 2025.


[Earnings Review] SLB Beats Estimates Again Despite Macro Headwinds in Q4

<ul>
<li>Schlumberger will report its Q4 earnings on 17/Jan, with revenue and EPS projected to rise sequentially and annually. Analysts hold a bullish outlook despite macroeconomic challenges.</li>
<li>Schlumberger's OI PCR at 0.70, signalling neutral sentiment, with an 80% IV percentile indicating high volatility.</li>
<li>For the 17/Jan expiry, SLB’s OI shows calls concentrated at strikes 45, 47.5, and 50, while puts dominate at 37.5, 40, and 42.5, with lower put OI at key levels.</li>
</ul>


Schlumberger will report its Q4 earnings on 17/Jan, with revenue and EPS projected to rise sequentially and annually. Analysts hold a bullish outlook despite macroeconomic challenges.
Schlumberger's OI PCR at 0.70, signalling neutral sentiment, with an 80% IV percentile indicating high volatility.
For the 17/Jan expiry, SLB’s OI shows calls concentrated at strikes 45, 47.5, and 50, while puts dominate at 37.5, 40, and 42.5, with lower put OI at key levels.


[Pre Earnings Options Flash] Schlumberger’s OI PCR Indicates Neutral Sentiment Ahead of Q4 Results

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.

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Schlumberger Ltd (SLB US)

[Earnings Preview] SLB Faces Downward Pressure from Weak Oil Prices and Softening Demand

Schlumberger's Q1 2025 revenue and EPS expected to decline, but "Strong Buy" consensus remains due to global presence and strong cash flow despite...

Mint Finance

[Earnings Preview] Aramco to Face Pressure in Q4 as Weak Oil Prices Squeeze Margins

Saudi Aramco's Q4 revenue and EPS expected to dip QoQ, but rise YoY. Growth reliant on oil prices as OPEC extends supply cuts. Expanding retail...

Mint Finance

How Schlumberger (SLB) Is Redefining Oilfield Services With Digital Innovation & Shareholder Rewards!

SLB's latest financial performance highlights a mix of operational resilience and strategic initiatives aimed at driving shareholder value. The...

Baptista Research

[Earnings Review] SLB Beats Estimates Again Despite Macro Headwinds in Q4

Schlumberger beats Q4 and 2024 estimates. Outperformance was driven by growth in the Middle East and North America. SLB sees non-oil and gas...

Mint Finance

[Pre Earnings Options Flash] Schlumberger’s OI PCR Indicates Neutral Sentiment Ahead of Q4 Results

Schlumberger set to report strong Q4 earnings despite macroeconomic challenges, with bullish sentiment from analysts and options market.

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Earnings Preview] SLB Faces Downward Pressure from Weak Oil Prices and Softening Demand

​Schlumberger's Q1 2025 revenue and EPS expected to decline, but "Strong Buy" consensus remains due to global presence and strong cash flow despite...

Mint Finance

[Earnings Preview] Aramco to Face Pressure in Q4 as Weak Oil Prices Squeeze Margins

​Saudi Aramco's Q4 revenue and EPS expected to dip QoQ, but rise YoY. Growth reliant on oil prices as OPEC extends supply cuts. Expanding retail...

Mint Finance

How Schlumberger (SLB) Is Redefining Oilfield Services With Digital Innovation & Shareholder Rewards!

SLB's latest financial performance highlights a mix of operational resilience and strategic initiatives aimed at driving shareholder value. The...

Baptista Research

[Earnings Review] SLB Beats Estimates Again Despite Macro Headwinds in Q4

​Schlumberger beats Q4 and 2024 estimates. Outperformance was driven by growth in the Middle East and North America. SLB sees non-oil and gas...

Mint Finance

[Pre Earnings Options Flash] Schlumberger’s OI PCR Indicates Neutral Sentiment Ahead of Q4 Results

​Schlumberger set to report strong Q4 earnings despite macroeconomic challenges, with bullish sentiment from analysts and options market.

Mint Finance

Schlumberger's Q1 2025 revenue and EPS expected to decline, but "Strong Buy" consensus remains due to global presence and strong cash flow despite...

Saudi Aramco's Q4 revenue and EPS expected to dip QoQ, but rise YoY. Growth reliant on oil prices as OPEC extends supply cuts. Expanding retail...

Schlumberger beats Q4 and 2024 estimates. Outperformance was driven by growth in the Middle East and North America. SLB sees non-oil and gas...

Schlumberger set to report strong Q4 earnings despite macroeconomic challenges, with bullish sentiment from analysts and options market.