|Bid||45.72 x 800|
|Ask||45.73 x 800|
|Day's Range||45.33 - 46.09|
|52 Week Range||34.99 - 75.43|
|Beta (3Y Monthly)||1.69|
|PE Ratio (TTM)||31.29|
|Earnings Date||Apr 18, 2019 - Apr 22, 2019|
|Forward Dividend & Yield||2.00 (4.59%)|
|1y Target Est||53.46|
While the North America business environment remains challenging, both Schlumberger (SLB) and Halliburton (HAL) expect international drilling activity to continue with the broad-based recovery.
doesn't seem like a very compelling investment proposition. The 4.4% dividend yield is attractive but the free cash flow didn't cover the dividend in 2018. Recovery From the Bottom of the Cyclical Oil E&P Business Before the drop of the oil prices about five years ago, Schlumberger was generating impressive margins from its international offshore business.
Better-than-expected revenue in North America, along with the company's claim that prices were bottoming out, initially drove shares in the oilfield services giant almost 5 percent higher after it published first quarter results. "I don't think there was anything in there to get people off the sidelines," said Jennifer Rowland, an analyst at brokerage Edward Jones, arguing the company's comments fell short of what was needed to shift sentiment around the industry. Halliburton and larger rival Schlumberger NV have been struggling with a tightening of spending by U.S. oil producers in response to shareholder pressure for greater returns following a period of heavy investment in shale.
Halliburton said the "worst in the pricing deterioration is now behind us" after rival Schlumberger warned of weak U.S. shale activity.
Both oil field services companies also met or exceeded analysts’ average estimates for the first quarter of 2019.
Schlumberger said last week that investments by oil producers in international markets will increase by 7 percent to 8 percent this year, citing a 20 percent increase last quarter in offshore rig counts and growing exploration activity in Latin America, Africa and Asia. Halliburton's international revenue rose 11 percent in the first quarter, driven by gains in Mexico, Argentina and the Middle East.
On Monday morning, Halliburton went to the tape with a less than impressive $0.23 per share for the quarter that met consensus, on revenue that while flat year over year did rise above what had been expected. Meanwhile, Schlumberger, while still in need of domestic performance, enjoys a much better balance in revenue generation between North America, Europe & Africa, and the Middle East & Asia.
Halliburton (HAL) anticipates its international revenue to grow at a high single-digit rate in 2019, with further improvement next year.
Shares of energy companies were broadly higher Monday, as crude oil prices jumped toward a 5 1/2-month high on supply concerns after reports that the U.S. will announce the end of waivers for countries to import Iranian oil. Also giving the sector a boost was better-than-expected first-quarter results from oil services company Halliburton Co. before the open. The SPDR Energy Select Sector ETF rose 0.8%, with 27 of its 30 equity components gaining ground, led by the 1.8% rally in Marathon Oil Corp.'s stock . Halliburton shares gained 0.1%. Among other more active energy ETF (XLE) components, shares of Kinder Morgan Inc. advanced 1.3%, Exxon Mobil Corp. rose 1.4% and Chevron Corp. tacked on 0.7%. Among the few losers, Schlumberger Ltd.'s stock gave up 0.3% and Anadarko Petroleum Corp. shares slipped 0.3%. The XLE has rallied 18.2% year to date while the S&P 500 has gained 15.8%.
Danaher, Honeywell, Schlumberger and an earnings parade moved the markets today. TheStreet's Jim Cramer breaks down what it all means for investors.
Schlumberger (NYSE:SLB) posted its latest quarterly earnings results late on Thursday, bringing in mixed results that sent SLB stock sliding as profit topped expectations, but fell year-over-year.For its first quarter of 2019, the Houston, Texas-based oilfield services business announced net income of $421 million, dropping more than $100 million from the $525 million it amassed during the year-ago quarter. Earnings tallied up to 30 cents per share, meeting the Wall Street guidance, according to data compiled by Refinitiv.Schlumberger added that its revenue for the first three months of the fiscal year reached $7.88 billion, topping the $7.81 billion revenue outlook that Refinitiv called for. The company's cash flow from operations declined from $568 million in the year-ago quarter to now reach $326 million.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe company added that it sees a 7% to 8% gain in investments by oil producers in markets outside of North America, noting a 20% increase last quarter in offshore rig counts, as well as growing exploration activity in Latin America, Asia and Africa. Schlumberger had previously provided a guidance of high single-digit percentage growth in international markets, as well as a 10% slide year-over-year in North America customer spending.U.S. oil producers have not been as gung-ho about spending as in the past even though U.S. oil production has reached record numbers, while crude oil prices are recovering. This is linked to such businesses focusing on earnings growth to appease shareholders.SLB stock is down about 3.7% on Friday. More From InvestorPlace * 5 Dividend Stocks Perfect for Retirees * 10 S&P 500 Stocks to Buy Off Their Lows * 7 Stocks to Buy for Spring Season Growth Compare Brokers The post Schlumberger Earnings: Why SLB Stock Is Slumping Today appeared first on InvestorPlace.
Schlumberger’s Q1 Earnings Meet Analyst Estimates(Continued from Prior Part)Schlumberger in 2019 Schlumberger (SLB) has risen 31% so far in 2019. The stock has outperformed peers Halliburton (HAL), National Oilwell Varco (NOV), and Baker Hughes
Schlumberger's net income for the first quarter was $421 million, or 30 cents a share, vs. $525 million, or 38 cents a share, in the year-earlier period. Revenue from the company's North American operations slipped to $2.7 billion from $2.8 billion a year ago. International revenue was $5 billion vs. $5.2 billion.
Schlumberger’s Q1 Earnings Meet Analyst EstimatesEPS fell 21% Schlumberger (SLB) reported its first-quarter results today. The company reported EPS of $0.3, which met analysts’ consensus estimates. The EPS fell 21% YoY. “First-quarter revenue
"The return of international growth, and in particular the return of offshore activity and exploration, is what we have been waiting for," Chief Executive Officer Paal Kibsgaard told analysts and investors Thursday on a conference call. Schlumberger’s business outside of U.S. and Canada is where the company generates most of its revenue, and it’s forecasting single-digit growth for 2019, with explorers slated to boost spending as much as 8 percent.
The oilfield services sector bellwether said it expects a 7 to 8 percent increase in investments by oil producers in markets outside North America, citing a 20 percent increase last quarter in offshore rig counts and growing exploration activity in Latin America, Africa and Asia.
Investment in the US shale oil industry continues to fall, production growth is slowing and the balance of spending is shifting to other parts of the world, the oilfield services group Schlumberger has said. Paal Kibsgaard, chief executive, said he “the higher cost of capital, lower borrowing capacity, and investors looking for increased returns” in the US shale industry would mean that exploration and production companies would have to limit spending on new wells to what they could cover from their cash flows, cutting total expenditure by about 10 per cent. In the rest of the world, however, investment is picking up, and is expected to rise by about 7-8 per cent this year, the company thinks.
French oil giant Schlumberger Ltd. said Thursday it had net income of $421 million, or 30 cents a share, in the first quarter, down from $525 million, or 38 cents a share, in the year-earlier period. Adjusted per-share earnings also came to 30 cents, matching the FactSet consensus. Revenue edged up to $7.879 billion from $7.829 billion, ahead of the $7.810 billion FactSet consensus. But net income and revenue were lower than the prior quarter, "reflecting the expected reduction in North America land activity and seasonally lower international activity in the Northern Hemisphere," the company said in a statement. "In addition, reduced software, product, and multiclient seismic license sales following the fourth-quarter increase and lower Cameron long-cycle project deliveries contributed to the sequential decline." In North America, revenue was 3% lower than the fourth quarter, driven by softer pricing and lower activity for hydraulic fracturing and drilling-related businesses, it said. "From a macro perspective, we expect the oil market sentiments to steadily improve over the course of 2019, supported by a solid demand outlook combined with the OPEC and Russia production cuts taking full effect, slowing shale oil production growth in North America, and a further weakening of the international production base as the impact of four years of underinvestment becomes increasingly evident," the company said. Shares fell 1.3% premarket and are down 32.6% in the last 12 months, while the S&P 500 has gained 7.1%.
On a per-share basis, the The Hague, Netherlands-based company said it had profit of 30 cents. The results met Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment ...
PARIS-- -- Worldwide revenue of $7.9 billion decreased 4% sequentially, but increased 1% year-on-year International revenue of $5.0 billion decreased 5% sequentially, but increased 3% year-on-year North America revenue of $2.7 billion decreased 3% sequentially and 3% year-on-year Pretax operating income of $908 million decreased 6% sequentially and 7% year-on-year EPS was $0.30 Cash flow from operations ...