SLB Stock Plummets 30% YTD: Should You Hold or Exit the Investment? [Yahoo! Finance]
Baker Hughes Company (BKR)
Company Research
Source: Yahoo! Finance
overall fall of 8.6%. The reduced demand for SLB's products and services due to a slowdown in both North American and international drilling activities has adversely impacted its offerings, such as well placement optimization and drilling efficiency solutions. These are some of the key reasons for the company's underperformance in the stock market. YTD Price Chart Zacks Investment Research Image Source: Zacks Investment Research So, what should investors' approach to the stock be? Before addressing this, let's examine some fundamental aspects of this energy major. Global Drilling Slowdown: Testing SLB's Resilience In its latest worldwide rig count report, Baker Hughes Company BKR revealed the North American rig count of 789 for November, significantly lower than 816 rigs recorded in the same month of 2023. This decrease suggests that exploration and production companies have been reducing their capital expenditure budgets for drilling activities. The shift is primarily due
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BKR
News
- Baker Hughes (NASDAQ: BKR) is now covered by analysts at Piper Sandler. They set an "overweight" rating and a $53.00 price target on the stock.MarketBeat
- Baker Hughes (NASDAQ: BKR) had its price target raised by analysts at Barclays PLC from $46.00 to $52.00. They now have an "overweight" rating on the stock.MarketBeat
- Baker Hughes (NASDAQ: BKR) had its price target raised by analysts at Bank of America Co. from $42.00 to $48.00. They now have a "buy" rating on the stock.MarketBeat
- Baker Hughes (NASDAQ: BKR) had its price target raised by analysts at Wells Fargo & Company from $42.00 to $49.00. They now have an "overweight" rating on the stock.MarketBeat
- Baker Hughes (NASDAQ: BKR) had its price target raised by analysts at Royal Bank of Canada from $43.00 to $49.00. They now have an "outperform" rating on the stock.MarketBeat
BKR
Earnings
- 10/22/24 - Beat
BKR
Sec Filings
- 12/18/24 - Form 4
- 12/18/24 - Form 4
- 12/18/24 - Form 4
- BKR's page on the SEC website