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Oct.20 -- Schlumberger Ltd. and Baker Hughes, the world’s two biggest oilfield service companies, say North America’s growth engine is slowing. Bloomberg's David Wethe reports on "Bloomberg Markets."
The outlook drove shares in both companies lower, with Schlumberger NV (SLB.N) hitting a 21-month low and Baker Hughes (BHGE.N) touching a 16-month low before retracing some losses. Schlumberger, the world's largest oilfield service company, warned that Wall Street estimates for fourth-quarter earnings may be too high, with customer investments in North American production moderating due to investor pressure for improved shareholder returns.
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 7 to 736 this week, marking a third-consecutive weekly decline. The total active U.S. rig count, which includes ...
Schlumberger (SLB) and Baker Hughes, a GE Company(BHGE) are both falling on Friday, following their third-quarter earnings reports, even though Schlumberger didn't miss expectations. Schlumberger said it earned 42 cents a share on revenue that climbed 12.6% year over year to $7.91 billion, matching analysts estimates on both the top and bottom line. The company said that in looking at the industry as a whole, the reduction in global oil inventories in the third quarter is a clear sign that the oil market is now balanced, as demonstrated by oil's higher prices in the past month. FBR Capital Markets' Thomas Curran reiterated a Buy rating and $93 price target: We consider the company's 3Q17 results and updated global market views, which are the most positive in some time, strongly supportive of our existing thesis.
Baker Hughes a GE company (BHGE) on Friday reported a loss of $104 million in its third quarter. On a per-share basis, the Houston-based company said it had a loss of 24 cents. Earnings, adjusted for non-recurring ...
Schlumberger said investments in North America were moderating as energy companies increasingly shied away from chasing higher production at the cost of financial returns. "Oil prices remain volatile and, as a result, our customers remain cautious," Baker Hughes Chief Executive Lorenzo Simonelli said.
Baker Hughes' warned on Friday that the rest of the year would be challenging after it reported a quarterly profit that missed estimates by a wide margin as the oilfield services company negotiates volatile ...
U.S. shale drillers are tapping on the brakes in the wake of a growing investor revolt that’s held down company values, even as they’ve scored historic production numbers.
Conservative investors may want to consider buying shares of Baker Hughes, a GE company Class A (NYSE: BHGE ), according to analysts at UBS. The firm's Angie Sedita initiated coverage of Baker Hughes' ...
The number of rigs drilling for oil in the U.S. fell by five in the past week to 743, according to oil-field services company Baker Hughes. The nation’s gas-rig count fell by two.
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 5 to 743 this week after posting a fall of 2 rigs last week. The total active U.S. rig count, which includes ...
General Electric’s Baker Hughes recently held takeover talks with energy-services company Subsea 7, but the negotiations recently broke down over price.
Baker Hughes on Friday reported that the number of active U.S. rigs drilling for oil fell by 2 to 748 this week after posting a climb of 6 rigs last week. The total active U.S. rig count, which includes ...
According to data compiled by Reuters on October 3, 2017, approximately 42% of Wall Street analysts tracking Baker Hughes rated it a “buy” or some equivalent.
The correlation coefficient between Baker Hughes’s (BHGE) stock price and the West Texas Intermediate (or WTI) crude oil prices from October 3, 2016, to October 3, 2017, was 0.46.
Short interest in Baker Hughes (BHGE) as a percentage of its float was 2.8% as of October 3, 2017, compared to 3.4% as of June 30, 2017.
General Electric Co (GE.N) named John Flannery chairman of the board on Monday, three months ahead of schedule, after former CEO Jeff Immelt retired earlier than expected from the chairmanship. The maker of aircraft engines, locomotives, power plants and other industrial equipment also named Lorenzo Simonelli chairman of Baker Hughes GE, succeeding Immelt. Immelt last month took himself out of the running for the CEO job at ride-hailing company Uber Technologies Inc[UBER.UL].