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In all its operating business segments, Schlumberger (SLB) maintains its position as one of the key players. However, declining cash balance might be a concern.
On October 13, 2017, Schlumberger’s (SLB) implied volatility was 18.7%. Since its 2Q17 financial results on July 21, 2017, its implied volatility has remained nearly unchanged.
Schlumberger (SLB) announced that on October 5, 2017, it received an engineering, procurement, and construction (or EPC) contract from Reliance Industries in India.
Year-to-date, the Energy Select Sector SPDR (ETF) (NYSEARCA:XLE) is down 10%, but of late it’s has a nice rally. This one tucks in nicely in mine as I have been long Exxon Mobil Corporation (NYSE:XOM) stock, but recently booked my profits. Specifically XOM and Chevron Corporation (NYSE:CVX), as they constitute almost 40% of the exchange-traded fund. Schlumberger Limited.
U.S. President Donald Trump is set to decide on the Iran nuclear deal later this week, with signs that he might decertify the landmark pact and impose fresh set of sanctions on Tehran.
Schlumberger (SLB) is lower on Wednesday, following a downgrade from BMO Capital Markets. Analyst Daniel Boyd and his team cut their rating on the stock to Market Perform and cut their price target by $2, to $72. Schlumberger is investing project management (SPM), that accounts for nearly a quarter of its total capex, and Boyd estimates that its total capex for this year and next will be well above that of its peers on an EBITDA to revenue basis.
The number of oil rigs in Venezuela fell to a new 15-year low in September as the country’s indebted government and economy struggle to invest. Only 44 oil rigs are operating in Venezuela, half the number of rigs at work in 2013, according to the latest Baker Hughes data. Venezuela is a member of the Organization of Petroleum Exporting Countries (OPEC), which on Tuesday pressured U.S. oil producers -- and hedge funds -- to meet with OPEC in its efforts to support oil prices.
Since June 30, 2017, the West Texas Intermediate crude oil price has risen 7%, which followed crude oil prices' considerable fall over the previous four months.
On October 2, 2017, a Reuters survey reported that 72% of the Wall Street analysts tracking Schlumberger rated it as a “buy” or some equivalent.
The correlation coefficient between Schlumberger’s (SLB) stock price and the West Texas Intermediate (or WTI) crude oil prices from October 2, 2016, to October 2, 2017, was 0.59.
Saudi Aramco plans to increase turnkey drilling contracts as part of a strategy to boost collaboration with major oilfield service providers, four industry sources said. A third tender for a lump-sump turnkey contract (LSTK) is expected to be floated later for work at Abu Hadriya, Fadhili and Khursaniyah fields.
Crude oil prices have increased ~10% since June 30. The US rig count has been stagnant despite higher crude oil prices in the past three months.
In 3Q17, analysts expect Schlumberger (SLB) to report adjusted earnings per share (or EPS) of ~$0.42. Analysts expect SLB’s adjusted earnings to increase 19% from its 2Q17 adjusted EPS of $0.35.
The price of oil has created many problems in the energy sector, and in other related sectors. Oil services stocks have bounced around, because the collapse choked off revenue since it wasn’t profitable enough for clients. Here are a few different ways to play the possible oil price breakout.
On September 29, Schlumberger’s (SLB) implied volatility was 17.9%. Since its 2Q17 financial results were announced on July 21, Schlumberger’s implied volatility has fallen from 19% to its current level....
Alan Valdes, Director of Floor Operations at Silverbear Capital, joins Yahoo Finance's Alexis Christoforous from the floor of the New York Stock Exchange to discuss the market for crude oil and OPEC's latest plea to U.S. shale investors to "take responsibility" and help ease the global supply glut.