Eni vs SLB
This page compares Eni and SLB, exploring their business models, financial performance, and the market context in which they operate. It presents a neutral overview to help you understand how each company approaches energy, technology, and services. Educational content, not financial advice.
This page compares Eni and SLB, exploring their business models, financial performance, and the market context in which they operate. It presents a neutral overview to help you understand how each com...
Why It's Moving
Eni ramps up treasury share buybacks, signaling management confidence amid steady energy sector flows.
- Acquired 3,794,333 shares between Dec 1-5 for €61.4 million, boosting total buybacks since May to 87.9 million shares worth €1.29 billion.
- Treasury holdings now at 174.8 million shares (5.55% of capital), reflecting strong balance sheet flexibility post solid Q3 earnings beat.
- Consensus analyst rating remains 'Hold' with shares trading above targets, as energy majors navigate flat hydrocarbon prices.
SLB stock reacts to mixed signals: robust contract wins offset by softer North American activity and cautious margins guidance
- International contract wins and backlog growth — SLB disclosed several sizable international awards in the past week that expand its integrated services footprint, reinforcing revenue visibility and validating its push into higher-value, technology-driven projects.
- North America land softness — Management cautioned that U.S. land activity remains softer-than-expected, implying lower short-term service volumes in the core oilfield services book and pressure on utilization and pricing for traditional completions work.
- Strategy and margin focus — SLB emphasized its tech-led repositioning and New Energy initiatives while noting margin headwinds from mix and pricing; the implication is that long-term structural upgrades could lift profitability, but near-term results depend on margin recovery and execution on international contracts.
Eni ramps up treasury share buybacks, signaling management confidence amid steady energy sector flows.
- Acquired 3,794,333 shares between Dec 1-5 for €61.4 million, boosting total buybacks since May to 87.9 million shares worth €1.29 billion.
- Treasury holdings now at 174.8 million shares (5.55% of capital), reflecting strong balance sheet flexibility post solid Q3 earnings beat.
- Consensus analyst rating remains 'Hold' with shares trading above targets, as energy majors navigate flat hydrocarbon prices.
SLB stock reacts to mixed signals: robust contract wins offset by softer North American activity and cautious margins guidance
- International contract wins and backlog growth — SLB disclosed several sizable international awards in the past week that expand its integrated services footprint, reinforcing revenue visibility and validating its push into higher-value, technology-driven projects.
- North America land softness — Management cautioned that U.S. land activity remains softer-than-expected, implying lower short-term service volumes in the core oilfield services book and pressure on utilization and pricing for traditional completions work.
- Strategy and margin focus — SLB emphasized its tech-led repositioning and New Energy initiatives while noting margin headwinds from mix and pricing; the implication is that long-term structural upgrades could lift profitability, but near-term results depend on margin recovery and execution on international contracts.
Which Baskets Do They Appear In?
Natural Gas Investing: What's Next for Nigeria?
As Nigeria pivots to leverage its vast natural gas reserves for economic growth, this resource is becoming central to its energy transition strategy. This basket offers potential exposure to globally-listed energy companies, infrastructure providers, and technology firms participating in this development.
Published: September 24, 2025
Explore BasketLong Term Nigeria Investing: Could Multinationals Win?
As more Nigerians seek to build wealth and protect against inflation, the demand for quality long-term assets is soaring. This basket offers exposure to the global financial infrastructure and multinational corporations capitalizing on Africa's growth.
Published: September 19, 2025
Explore BasketEnergy Supermajor Consolidation
This carefully selected group of stocks captures the ripple effects of Chevron's game-changing $53 billion Hess acquisition. Our professional analysts have identified companies positioned to benefit from this new wave of energy sector consolidation, from competing supermajors to specialized service providers crucial for developing offshore mega-projects.
Published: July 20, 2025
Explore BasketWhich Baskets Do They Appear In?
Natural Gas Investing: What's Next for Nigeria?
As Nigeria pivots to leverage its vast natural gas reserves for economic growth, this resource is becoming central to its energy transition strategy. This basket offers potential exposure to globally-listed energy companies, infrastructure providers, and technology firms participating in this development.
Published: September 24, 2025
Explore BasketLong Term Nigeria Investing: Could Multinationals Win?
As more Nigerians seek to build wealth and protect against inflation, the demand for quality long-term assets is soaring. This basket offers exposure to the global financial infrastructure and multinational corporations capitalizing on Africa's growth.
Published: September 19, 2025
Explore BasketEnergy Supermajor Consolidation
This carefully selected group of stocks captures the ripple effects of Chevron's game-changing $53 billion Hess acquisition. Our professional analysts have identified companies positioned to benefit from this new wave of energy sector consolidation, from competing supermajors to specialized service providers crucial for developing offshore mega-projects.
Published: July 20, 2025
Explore BasketInvestment Analysis
Eni
E
Pros
- Eni has shown strong oil and gas production growth in Q3 2025, driven by solid exploration and production results.
- The company is advancing its transition-related business segments, including the transformation of Versalis, highlighting diversification.
- Eni maintains a robust balance sheet and is increasing shareholder returns through a €1.8 billion buy-back and a 5% dividend increase for 2025.
Considerations
- Eni's net profit margin remains relatively low at approximately 2.84%, which may constrain profitability growth.
- The company faces headwinds from lower commodity prices and a weaker USD, affecting financial performance.
- Analysts have a mixed outlook on Eni, with many rating it as ‘Hold’ and price targets below current levels, indicating limited upside expectation.
SLB
SLB
Pros
- Schlumberger benefits from a substantial sanctioned project pipeline of about $100 billion annually for 2025-26, supporting strong revenue visibility.
- The company offers a broad portfolio of energy technology and services, including digital integration, reservoir performance, and well construction.
- SLB trades at a relatively modest P/E ratio around 14, suggesting valuation may reflect a reasonable entry point relative to growth prospects.
Considerations
- SLB faces medium uncertainty in its business and capital allocation as indicated by some analyst ratings and market commentary.
- The stock price currently trades significantly below some fair value estimates, indicating market skepticism about near-term upside.
- Exposure to cyclicality in the oilfield services industry and dependence on global oil and gas capital expenditure may pose execution risks.
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