|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||61.40 - 63.95|
|52 Week Range||61.40 - 87.84|
|PE Ratio (TTM)||497.24|
|Forward Dividend & Yield||2.00 (3.10%)|
|1y Target Est||N/A|
Schlumberger Ltd. (SLB), which has one of its principal offices in Houston, managed to grow its North American quarterly revenue by about $400 million during the third quarter, but the company expects production growth in the region to slow going forward.
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.
After several quarters of up and down results, Schlumberger is finally starting to feel the effects of a full-blown recovery in the oil market.
'In the U.S. Gulf of Mexico, activity continued to weaken in the third quarter, and the outlook remains bleak for this region based on current customer plans,' the company says.
Schlumberger Limited.’s weak revenue for the third quarter of the year was due to decline in its international business. “In the US Gulf of Mexico, activity continued to weaken in the third quarter, and the outlook remains bleak for this region based on current customer plans,” Paal Kibsgaard, Chairman and CEO of Schlumberger Limited., said in a statement.
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.
Oil prices are poised to rise as a number of positive trends take shape in the market, Schlumberger CEO Paal Kibsgaard said.
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.
Schlumberger Ltd posted a bigger quarterly profit on Friday as its North American business continues to be helped by strong shale drilling, but the oilfield services giant said that investments in the region was moderating. The warning mirrors that of peer Baker Hughes, which also said it was expecting a challenging market for the rest of the year. "In the U.S. Gulf of Mexico, activity continued to weaken in the third quarter, and the outlook remains bleak for this region based on current customer plans," Schlumberger said in a statement.
Schlumberger NV (SLB) on Friday reported third-quarter profit of $545 million. On a per-share basis, the The Hague, Netherlands-based company said it had net income of 39 cents. Earnings, adjusted for ...
Schlumberger Ltd posted a bigger quarterly profit on Friday, as its North American business continues to be helped by strong shale drilling. Net profit attributable to the Houston-based oilfield services ...
Ecuador's state oil company Petroamazonas said it will issue some $350 million in bonds to repay part of its debts with oil services company Schlumberger as part of a wider deal that also includes other payment decisions. Petroamazonas accumulated debt with foreign suppliers as of 2015 in part due to lower oil prices. "An agreement with Schlumberger was reached last week for the payment of the total debt ... In November we will issue bonds for $350 million," Alex Galarraga, Petroamazonas' boss told reporters during a visit to the country's oil bloc known as ITT on Wednesday.
According to a press release , Schlumberger will be the majority non-operating owner of the assets, called the Palliser Block, and Canada-based Torxen will be the operator. The block consists of oil and gas wells, surface facilities, a pipeline network and approximately 800,000 acres of oil and gas development rights.
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' ...
Categories: ETFs Yahoo FinanceGet full CapitalCube analysis *Disclaimer : This is as of previous day’s closing price. Technical Indicators Below is a quick look at 5 technical indicators for Schlumberger NV. More studies are available on the Technical Chart. Indicator Signal Closing Price above/below 50 Day Moving Average Bearish Closing Price above/below 200 Day Moving Average Bearish 50 ... Read more (Read more...)
Global energy provider Royal Dutch Shell (RDS.A) agreed to buy electric car charging network owner NewMotion, while U.S. supermajor Chevron (CVX) dumped plans to drill in the Great Australian Bight.
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.
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."