After the energy sector crushed the market in 2022, you may be looking for more energy stocks to scoop up. What about Schlumberger stock?

Schlumberger Limited (NYSE: SLB) is a multinational oil and gas services company that provides solutions for the exploration and production of these critical resources.

Founded in 1926, it is one of the largest oilfield services companies in the world.

The company’s outlook for 2023 is promising as it continues to expand its operations and introduce new technologies.

Let’s take a look at what investors need to know about Schlumberger’s business outlook for 2023. We’ll also show you how Schlumberger stock scores using our Stock Power Ratings system.

The Business Outlook in 2023 and Beyond

Schlumberger’s business looks encouraging in 2023 as the company has made significant investments in expanding its presence across different regions.

It has also introduced many new technologies used for exploration and production. This includes investing in digital transformation initiatives, such as artificial intelligence, machine learning, predictive analytics, robotics, automation, cloud computing, big data, IoT applications and more.

These investments are expected to result in an increase in efficiency and cost savings over the next few years. That’s good news for Schlumberger stock.

Additionally, Schlumberger has also increased its focus on safety by introducing new technologies such as automation and remote monitoring systems that help reduce risk while increasing productivity.

Schlumberger is also focusing on expanding its presence across different geographies with an aim towards diversifying its revenue streams.

This includes plans to invest heavily into research & development (R&D) centers located outside of North America with an aim towards developing innovative solutions tailored specifically toward the needs of emerging markets.

Schlumberger stock has enjoyed the energy bull market, but let’s see how SLB stacks up for 2023.

Schlumberger Stock Power Ratings

Schlumberger stock rates a “Neutral” 56 out of 100. That means our system expects the stock to perform in line with the broader market over the next 12 months.

Schlumberger stock power ratings SLB stock

SLB’s Stock Power Ratings in January 2023.

I mentioned SLB enjoyed the energy bull market over the last year…

Shares gained 53% in the last 12 months as investors jumped into one of the only sectors that was working throughout the bear market. That’s why SLB sports a 90 out of 100 rating on our momentum factor.

This is also a healthy company. For proof there, just look at its dividend. It increased its payout by 40% in April 2022, and another 43% to $0.25 per share this month.

Increasing dividends means this company has cash on hand and is confident about its business. That’s partly why it sports a 67 rating on our quality factor.

Bottom Line: Overall, analysts have a positive outlook when it comes to Schlumberger’s business prospects as 2023 continues. The company has made significant investments into innovative technologies while also increasing its focus on safety.

But if you follow Stock Power Ratings, Schlumberger stock is one to watch for now.

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