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Schlumberger Limited

5/21/2013, 9:05 PM ET

Quote & Headlines Market Currents StockTalk

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Friday, May 3, 11:58 AM The bigger the better when it comes to oil services providers, Jefferies believes, making the case that the big sector players are best positioned to fix inefficiencies of operations and thus ultimately will see the largest benefit from the surge in U.S. production. The firm's favorites: SPN, SLCA, PES, HP, ESV, NOV, CAM, HAL, SLB. Comment! [Energy, Quick Ideas]
Thursday, May 2, 11:57 AM EOG Resources (EOG +0.6%) could see 25% annual oil production growth in coming years, and its stock trades at cheaper multiples than rivals, RBC says as it adds EOG to its "energy best ideas" list. The firm also adds Oceaneering (OII +2.3%); it boots Helmerich & Payne (HP +1.9%) and Precision Drilling (PDS +1%), whose U.S. rig counts have not risen as quickly as expected, as well as Continental Resources (CLR -0.8%). Comment! [Energy, Quick Ideas, On the Move]
Thursday, April 25, 3:06 PM Oil prices probably need to stabilize and/or move up before oilfield services stocks start rising again, but demand is strong below the surface, Credit Suisse says, believing current valuations fail to reflect the high level of activity or the stable nature of the North American business. The firm adds Halliburton (HAL) to its Focus List and upgrades Baker Hughes (BHI) to Outperform with a $54 price target (from $40). Comment! [Energy, Quick Ideas]
Monday, April 22, 2:50 PM Although Schlumberger's (SLB +2.1%) Q1 revenues came in light, Sterne Agee remains a believer in the stock, reiterating its Buy rating and $93 price target, noting that international margins beat expectations despite a usual seasonal slowdown. Rising international and deepwater activity coupled with a bottoming U.S. land market yield improves the firm's confidence in 2013-15 earnings growth. Comment! [Energy, Quick Ideas, On the Move]
Friday, April 19, 2:43 PM Schlumberger's (SLB -2%) Paal Kibsgaard says during today's conference call he's "not overly concerned" about the drop in oil prices, and prices are still high enough to support drilling in North America and around the world. The CEO says he still expects SLB to grow international operations by ~10% this year, with "strong and consistent growth" in sub-Saharan Africa, Russia, China and Australia. (earnings) Comment! [Energy, On the Move]
Friday, April 19, 7:38 AM More on Schlumberger's (SLB) Q1 results: “The outlook for North America remains uncertain, with lower-than-expected rig activity and continuing pricing weakness," CEO Paal Kibsgaard says. Oilfield services revenue from North America, the region which generates most of the top-line, fell 4.2% to $3.29B. Overall drilling revenue was $4.1B, up 9% Y/Y but flat Q/Q. Shares +0.5% premarket. Comment! [Energy, Earnings]
Friday, April 19, 6:01 AM Schlumberger (SLB): Q1 EPS of $1.01 beats by $0.02. Revenue of $10.67B misses by $0.08B. (PR) Comment! [Earnings, Breaking News]
Friday, April 19, 12:05 AM Notable earnings before Friday’s open: BHI, COL, FHN, FNFG, GE, GPC, HON, IPG, KMB, KSU, LH, MAN, MCD, NPBC, SAP, SLB, STI, STT, TCB, TNP, UA Comment! [Earnings]
Thursday, April 18, 5:30 PM Notable earnings before Friday’s open: BHI, COL, FHN, FNFG, GE, GPC, HON, IPG, KMB, KSU, LH, MAN, MCD, NPBC, SAP, SLB, STI, STT, TCB, TNP, UA Comment! [Earnings]
Thursday, April 18, 5:24 PM Schlumberger Ltd. (SLB) declares $0.3125/share quarterly dividend, in line with previous. Forward yield 1.76%. For shareholders of record June 05. Payable July 12. Ex-div date June 03. (PR) Comment! [Dividends]
Thursday, April 18, 5:14 PM Despite the weak YTD start in oil service companies Baker Hughes (BHI), Halliburton (HAL), Schlumberger (SLB) and Weatherford (WFT), Barclays analyst James West makes a strong case for all four in the months ahead. The group trades at 13.2x forward earnings, ~20% less than the 10-year average, and shares also are cheap relative to commodity prices, West says. Comment! [Energy, Quick Ideas]
Wednesday, April 17, 6:01 PM A widely expected Q1 rebound for oil services companies (OIH) is not materializing, analysts say, as the U.S. land rig count fell ~3% Q/Q in Q1 and was 13% lower Y/Y. Now the view is that recovery will be slower rather than faster. Fresh off a wave of downward analyst revisions, Schlumberger (SLB) and Baker Hughes (BHI) report on Friday, while Halliburton (HAL) posts earnings next week. Comment! [Energy]
Friday, April 12, 3:27 PM Schlumberger (SLB -2%) got a great deal on acreage in Texas’ Eagle Ford shale, Jefferies calculates, with an implied valuation of ~$3,300/acre vs. more than $20K/acre in recent Eagle Ford deals by other companies. SLB may not make other similar deals, but the Forest Oil (FST -3.5%) agreement is good "advertising" for its "smarter" approach toward unconventional energy sources. 1 Comment [Energy, On the Move]
Friday, April 12, 8:31 AM Forest Oil (FST) +10.9% premarket after it signs an agreement with Schlumberger (SLB) for future development of FST's Eagle Ford Shale acreage in Texas. FST will be the operator of the drilling program; SLB will provide assistance to FST via integrated service offerings and asset management support. Comment! [Energy, On the Move]
Monday, April 1, 7:52 AM Schlumberger (SLB) reaches a new payment agreement with Venezuela's state oil company PDVSA and will now be able to recognize all revenue associated with its Q1 operations in the country. The news follows a warning from SLB in its quarterly earnings report that Venezuelan customers' rates of payment had dropped sharply. 1 Comment [Energy, Global & FX]
Wednesday, March 27, 2:48 PM For investors interested in oilfield services companies, Simmons analysts provide their share-price entry points for the sector's top names - SLB, HAL, BHI, WFT, CAM, FTI, NOV - and finds all look fairly valued with 2013 likely to be a murky year. But "most of these names are good solid buys on weakness," the firm says, and that’s where the entry points help. Comment! [Energy, Quick Ideas]

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