Schlumberger Has Significant Upside Potential With ChampionX [Seeking Alpha]
ChampionX Corporation (CHX)
Company Research
Source: Seeking Alpha
Management increased their shareholder benefits from $2.5b to $3b for 2024 and $4b in 2025. International well development and domestic enhanced oil recovery and CCUS will drive growth for Schlumberger in 2024-2025. Schlumberger ( NYSE: SLB ) reported a strong start to FY24 with revenue growing 13% paired with aEBITDA margin expansion. Though the firm came in shy of my forecast , management remains adamant that the firm will experience strong and durable growth in the coming quarters. In addition to improvements in international production, management reaffirmed their agreement to acquire Houston, TX-based ChampionX Corp. ( NASDAQ: CHX ) in an all-stock deal valued at $7.8b at the time of the original announcement April 1, 2024. I believe this acquisition will be accretive as it will enhance areas that Schlumberger falls behind in, such as advanced chemicals. I reiterate my BUY recommendation for SLB shares. I am also increasing my price target for SLB shares from $83.15 to $89.4
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CHX
News
- STOCKHOLDER ALERT: The M&A Class Action Firm Continues Investigating the Merger – KTRA, CHX, NVEI, ADTHGlobeNewswire
- ChampionX (CHX) Reports Q1 Earnings: What Key Metrics Have to Say [Yahoo! Finance]Yahoo! Finance
- ChampionX Reports First Quarter 2024 Results [Yahoo! Finance]Yahoo! Finance
- ChampionX Reports First Quarter 2024 ResultsGlobeNewswire
- Schlumberger Limited (NYSE:SLB) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
CHX
Earnings
- 4/24/24 - Beat
CHX
Sec Filings
- 4/25/24 - Form IRANNOTICE
- 4/25/24 - Form 10-Q
- 4/24/24 - Form 8-K
- CHX's page on the SEC website