70.18 -0.10 (-0.14%)
After hours: 7:59PM EDT
|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||69.70 - 70.92|
|52 Week Range||61.02 - 80.35|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 20, 2018|
|Forward Dividend & Yield||2.00 (3.04%)|
|1y Target Est||81.17|
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Schlumberger, one of the top holdings in the energy-tracking XLE , is the largest oil services field play in the world. With a presence in every single energy market in the world, it's definitely a stock that you want to keep your eyes on. Strong global growth and good supply-and-demand fundamentals have really kept a good, solid floor under oil prices, but the surprising part of the rally in oil prices is that energy stocks have lagged.
With commodities rising, some investors are revisiting the asset class. Another way to gain commodities exposure is via commodities-linked equities. In the oil patch, that can include oil services stocks ...
Analysts have curbed their expectations for oilfield services earnings over the past two months largely due to sand shortage issues that may lead to fewer completions by many of these companies.
Global oil prices have gained nearly 15% since March as investors count the cost of continue OPEC production cuts and the threat of supply disruption from Iran linked to nuclear treaty sanctions.
Schlumberger likely won't see increased spending from exploration and production companies despite the recent increase in oil prices when the oilfield service provider announces results early Friday.
Offshore oil driller Seadrill (SDRL.OL) plans to emerge from Chapter 11 bankruptcy in late June or early July to catch the rising wave of rig market activity, its chief executive told said on Wednesday. The company won U.S. court approval on Tuesday for its multi-billion dollar debt restructuring plan after reaching a deal with more than 40 banks, unsecured creditors and shipyards. Obviously, we would like to do it as fast as possible," CEO Anton Dibowitz told Reuters.
Baker Hughes (BHGE), a GE company, released its weekly US crude oil rig count report on April 13, 2018. Baker Hughes reported that US crude oil rigs increased by seven to 815 on April 6–13, 2018. The rigs are at the highest level since March 20, 2015. The rigs also increased by 132 or ~19.3% year-over-year.
Schlumberger’s (SLB) correlation with the price of crude oil from April 6, 2018, to April 13, 2018, was 0.73. So, SLB’s correlation with crude oil was strong in the past week. A strong positive correlation implies that the stock closely tracked crude oil’s moves.