39.62 +0.13 (0.33%)
Pre-Market: 5:53AM EDT
|Bid||39.36 x 3000|
|Ask||39.62 x 800|
|Day's Range||38.62 - 39.76|
|52 Week Range||34.46 - 68.30|
|Beta (3Y Monthly)||1.87|
|PE Ratio (TTM)||26.50|
|Earnings Date||Oct 17, 2019 - Oct 21, 2019|
|Forward Dividend & Yield||2.00 (5.06%)|
|1y Target Est||49.10|
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.
Strong activity in international markets helped the Houston-based oilfield services provider gift investors an estimate-beating quarter.
After his retirement, Schlumberger's outgoing CEO will draw a larger salary than the company's new leader. But salary is not the extent of the new CEO's compensation.
Schlumberger Limited. (NYSE: SLB ) last week reported solid second-quarter results and management indicated they were comfortable with the consensus expectations for the third quarter. The company is likely ...
Halliburton's upbeat earnings stoked buying interest, but tremendous buying power will be needed to end the five-year downtrend.
(Bloomberg) -- Schlumberger Ltd.’s Paal Kibsgaard may be leaving his job, but he’ll collect paychecks for years to come.The outgoing chief executive officer will continue to lift his $2 million annual salary through July 31, 2022, in exchange for providing “certain services” and agreeing not to take a job at a rival, according to a regulatory filing Friday. As part of the deal, he’ll also receive medical and pension benefits, and continue to vest in stock awards he’s previously received.His successor, Olivier Le Peuch, will receive $1.4 million in salary after he takes over the top job on Aug. 1. He’s eligible for an annual bonus of as much as $2.1 million, and a $10.5 million grant of stock that’s tied to performance metrics.Kibsgaard, who’s also accumulated about $10 million in pension benefits over his 22 years at the company, said Friday that it was important for him to “walk off the stage” as soon as Le Peuch was ready to take over.To contact the reporter on this story: Anders Melin in New York at email@example.comTo contact the editors responsible for this story: Pierre Paulden at firstname.lastname@example.org, Christine Buurma, Carlos CaminadaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- In an ironic twist, Schlumberger Ltd. is tapping as its chairman an executive who earned a reputation for building shale producers that bypass oil service companies.Mark Papa, 72, who will take over as chairman of the world’s biggest oilfield service provider next month, helped give birth to the U.S. shale boom a decade ago by building Enron Corp. castoff EOG Resources Inc. into one of the nation’s biggest explorers. He’s now running Centennial Resource Development Inc.In his new role, Papa will help Schlumberger’s next chief executive officer, Olivier Le Peuch, tackle an industry downturn as investors pressure producers to rein in spending and return cash to shareholders. Le Peuch, 55, and Papa will replace Paal Kibsgaard, 51, who’s stepping down as chairman and CEO.A key Papa trademark is bypassing technology from the oilfield servicers, opting instead for in-house innovations. It’s what led Paul Sankey, then an analyst at Wolfe Research, to dub EOG under Papa’s watch the “APPL of oil,” referring to the trading symbol for Apple Inc. Papa did that again at Centennial, hiring key former EOG executives to help make technology one of the pillars of his new company.“It wasn’t the service companies that provided the advances in shale technology,” Papa said with a chuckle in a 2017 interview. “They’re marketing that stuff and saying it was them, but it wasn’t the service companies that provided the technical breakthroughs.”Papa has encountered some roadblocks at Centennial, the blank-check company he founded after retiring from EOG in 2013. Shares of the explorer have plunged 46% this year as it joins other producers in trimming spending amid volatile oil prices.To contact the reporter on this story: David Wethe in Houston at email@example.comTo contact the editors responsible for this story: Simon Casey at firstname.lastname@example.org, Christine Buurma, Reg GaleFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Schlumberger Ltd. has been trying to stabilize around $35. In this daily bar chart of SLB, below, we can see that prices are below the declining 200-day moving average line. The daily On-Balance-Volume (OBV) line has only made a slight improvement since early June so we cannot say that buyers have really turned more aggressive.
The oilfield services provider also posted higher-than-expected second-quarter revenue and a year-over-year profit increase, as demand in international markets countered weakness in North America. Its earnings of 35 cents a share were in line with analysts' expectations, but shares fell as much as 3% in early trading amid forecasts for continued soft demand for oilfield services in North America. "North America remains a challenging environment," Le Peuch told investors on Friday during a conference call, pointing to softer pricing and an overcapacity of equipment, particularly in hydraulic fracturing.
Schlumberger (SLB) delivered earnings and revenue surprises of 0.00% and 1.90%, respectively, for the quarter ended June 2019. Do the numbers hold clues to what lies ahead for the stock?
Oilfield services group Schlumberger appointed Olivier Le Peuch as its new chief executive officer, succeeding Paal Kibsgaard, who announced he is retiring from the position at the end of this month. Additionally, while reporting second-quarter results on Friday that broadly topped Wall Street estimates, the company tempered its expectations for oil demand this year because of the global trade war and geopolitical tension. Mr Kibsgaard, who has been CEO of the Paris-based company for the past eight years and will also step down from his role as chairman, said in a statement on Friday Mr Le Peuch was “ideally suited” to lead Schlumberger “into the next chapter” of its history.
Schlumberger earnings fell in line with Q2 views. The oil field services named Oliver Le Peuch as CEO as of Aug. 1. Schlumberger stock rose slightly.
Shares of Schlumberger Ltd. swung to a premarket gain of 1.0% Friday, after the oil services company reported second-quarter revenue that beat expectations, while profit that matched. Before the results, the stock was down over 1% after the company said CEO Paal Kibsgaard will retire after 8 years in the role. Net income rose to $492 million, or 35 cents a share, from $430 million, or 31 cents a share in the year-ago period. Excluding non-recurring items, adjusted EPS fell to 35 cents from 43 cents, in line with the FactSet consensus. Revenue was little changed at $8.27 billion, but was above the FactSet consensus of $8.11 billion, as reservoir characterization, production and Cameron revenue topped expectations while drilling came up a bit shy. The stock has lost 14.9% over the past three months through Thursday, while the VanEck Vectors Oil Services ETF has tumbled 22.9% and the S&P 500 has gained 3.1%.
PARIS-- -- Worldwide revenue of $8.3 billion increased 5% sequentially International revenue of $5.5 billion increased 8% sequentially North America revenue of $2.8 billion increased 2% sequentially Pretax segment operating income of $968 million increased 7% sequentially EPS was $0.35 Cash flow from operations and free cash flow were $1.1 billion and $0.5 billion, respectively Quarterly cash dividend ...
Schlumberger NV said on Friday Chief Operating Officer Olivier Le Peuch will replace longtime Chief Executive Officer Paal Kibsgaard, as the top oilfield services provider bets on a technology expert to steer it back to its strengths in high-tech equipment. The change of guard comes when the oilfield services industry is buffeted by moderating demand as oil producers cut back spending to mollify investors seeking higher returns and use fewer equipment to extract crude oil. A veteran who has been with the company for more than three decades, Le Peuch was being groomed as a successor and was in February named the chief operating officer, a role Kibsgaard held before his elevation to the top role in August 2011.
Schlumberger Ltd. said Friday Chief Executive Paal Kibsgaard will retire after eight years in the role and 22 years with the company, and will step down as chairman of the board. The stock fell 1.1% in premarket trading, ahead of the company's second-quarter results due out later Friday. The oil services company said Kibsgaard will be succeeded as CEO by Chief Operating Officer Olivier Le Peuch, a 32-year veteran of the company, effective Aug. 1. "The board owes Paal a debt of gratitude for his excellent leadership in modernizing and transforming the Company to ensure its continued future success," said Lead Independent Director Peter Currie. "We wish Paal the very best as he enters a new chapter in his life." The stock has gained 7.5% year to date through Thursday, while the S&P 500 has rallied 19.5%.