#6 - SLB (NYSE:SLB)
If you can find energy stocks in a list of quality stocks under $50, you should give it strong consideration. And that’s the case with SLB (NYSE: SLB), the company formerly known as Schlumberger. SLB is an oil services company specializing in providing the equipment needed for offshore drilling, which is less carbon-intensive than traditional drilling methods.
SLB stock is down 13% in the last six months despite rising oil production. But most of that production is coming from existing sites. If oil prices shoot to $100, which they may do as inflation holds sway over the world economy, then new drilling sites will have to be explored.
One example of that comes from Petrobras (NYSE: PBR), which recently awarded SLB three contracts to provide hardware and services for up to 35 subsea wells the company is developing.
The SLB Analyst Ratings on MarketBeat give the stock a consensus Buy rating with a $69.67 price target, which would be a 42% gain. And that goes along with a sustainable dividend that has a 2.12% yield.
About Schlumberger
Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.
Read More - Current Price
- $44.88
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 19 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $65.29 (45.5% Upside)
