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Why This 1 Growth Stock Could Be a Great Addition to Your Portfolio

Zacks Equity Research
·2-min read

For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.

Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.

Why This 1 Growth Stock Should Be On Your Watchlist

Growth investors build their portfolios around companies that are financially strong and have a bright future, and the Growth Style Score helps take projected and historical earnings, sales, and cash flow into account to uncover stocks that will see long-term, sustainable growth.

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Schlumberger (SLB)

Houston, TX-based SLB is a leading oilfield services company, providing services to the oil and gas explorers, and producers across the world. Through oilfield services contracts, SLB helps the upstream energy players to locate oil and gas, and to drill and evaluate hydrocarbon wells. The company, founded in 1926, also supports the explorers to construct oil and gas wells and produce optimum volumes of the commodities from the existing wells.

SLB sits at a Zacks Rank #3 (Hold), holds a Growth Style Score of B, and has a VGM Score of B. Earnings and sales are forecasted to increase 17.8% and 12.2% year-over-year, respectively.

Three analysts revised their earnings estimate higher in the last 60 days for fiscal 2024, while the Zacks Consensus Estimate has increased $0 to $3.51 per share. SLB also boasts an average earnings surprise of 1.6%.

Schlumberger is also cash rich. The company has generated cash flow growth of 2.6%, and is expected to report cash flow expansion of 25.2% in 2024.

With solid fundamentals, a good Zacks Rank, and top-tier Growth and VGM Style Scores, SLB should be on investors' short lists.

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Schlumberger Limited (SLB) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research