|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||29.52 - 29.52|
|52-week range||29.52 - 4,630.00|
|Beta (5Y monthly)||1.68|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||2.00 (4.32%)|
|Ex-dividend date||11 Feb 2020|
|1y target est||N/A|
The crazy rate of production growth seen in US shale over the last five years is a thing of the past according to Schlumberger CEO Le Peuch
AÑELO, Argentina, Feb 19 (Reuters) - Just weeks into his young administration, Argentina's new president convened a meeting with executives from Chevron Corp, Royal Dutch Shell PLC and other oil companies in a bid to smooth things over with an industry which he had slammed as a candidate months before. In a fence-mending session Jan. 16, Fernandez apologized to energy executives for the mixed signals, according to an industry source with direct knowledge of the meeting.
Schlumberger Limited (NYSE:SLB) stock is about to trade ex-dividend in 3 days time. You will need to purchase shares...
(Bloomberg Opinion) -- Kinder Morgan Inc. just issued the thrilling news that it plans to grow profits by 0% this year. That counts as a win in energy in 2020.The pipelines giant was something of a bellwether in late 2015 when it slashed its dividend and soon after did the same to its growth plans. This process reached a logical conclusion of sorts in the full year results presented Wednesday evening. After the usual bullish remarks about natural gas, management outlined a plan to keep spending tight so it could bump the divided up on flat Ebitda. Having chipped away at its debts over the past four years or so, several asset sales allowed leverage to dip a bit further. And even as the project backlog drifted lower, any scurrilous talk of M&A on the earnings call was quashed swiftly.This is your U.S. energy playbook for the foreseeable future, folks.Kinder isn't a bellwether this time; the shrinkage doctrine is cropping up all over. We've just been treated to a set of results from the big oilfield services companies best described as managed retreat. Like Kinder Morgan's gas commentary, Schlumberger Ltd. made its customarily upbeat remarks about the outlook for international drilling activity on its own earnings call last week. Yet the action items are largely a set of retrenchments: job cuts, technology franchising (read: asset-light) and exiting or potentially exiting commoditized businesses such as artificial lift, fracking equipment and drilling tools. Similarly, Halliburton Co. touted growth prospects overseas, while carrying out “initial personnel reductions and real estate rationalization” as its core U.S. land business continues to suffer. Both companies are back to trading at discounts last seen when the oil crash was only just getting underway.The contractors are taking their lead from their clients. Both ConocoPhillips and Chevron Corp. closed out 2019 with declarations of restraint; one via a strategy presentation and the other with a big write-down. Similarly, the shortest run of year-over-year job gains in the U.S. upstream business since 2002 effectively ended in November (see this). It’s tough for even this habitually upbeat industry to talk a big game when (a) natural gas prices are comatose in the middle of JANUARY and (b) despite a year’s worth of Middle East drama having been crammed into just a few weeks, oil futures are lower now than they were after that last supposed game-changer in Saudi Arabia back in September:Evident caution on the part of oil and gas enablers such as pipeline operators and rig contractors is a clear sign the mantra of reducing capital intensity is taking over. After a decade like the one just gone, with many billions wasted in pursuit of sheer market share, that is no bad thing. Plus, with efforts to address climate change — itself essentially a war on waste — this decade brings added pressure to run an extraordinarily tight ship.Old habits die hard, and not everyone gets it. But with E&P earnings season about to kick off, it is worth noting that Kinder Morgan, with guidance roughly as exciting as cocktail hour at a pipelines conference, leads the energy sector on Thursday morning.To contact the author of this story: Liam Denning at email@example.comTo contact the editor responsible for this story: Mark Gongloff at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Given the prolonged move up in terms of price and time, the direction of the March E-mini Dow Jones Industrial Average on Monday is likely to be determined by trader reaction to Friday’s close at 29279.
Analysts expect earnings at S&P 500 companies to drop 0.8% in the fourth quarter, but forecast a 5.8% rise in the first quarter of 2020, according to Refinitiv IBES data. Billionaire David Tepper, who founded hedge fund Appaloosa Management, told CNBC that he remains bullish on U.S. equities. The Dow Jones Industrial Average rose 0.17% to end at 29,348.1 points, while the S&P 500 gained 0.39% to 3,329.62.
Analysts expect earnings at S&P 500 companies to drop 0.8% in the fourth quarter, but forecast a 5.8% rise in the first quarter of 2020, according to Refinitiv IBES data. Billionaire David Tepper, who founded hedge fund Appaloosa Management, told CNBC that he remains bullish on U.S. equities. At 2:42 p.m. ET, the Dow Jones Industrial Average was up 0.08% at 29,321 points, while the S&P 500 gained 0.22% to 3,323.95.
Energy stocks have lagged the broader market for the past year and past decade -- but they could be the trade of the 2020s, according to David Mazza of Direxion.
Reuters last year reported that Biguet, a 24-year veteran of the company and currently the vice president of finance, was slated to succeed Ayat as the company's finance chief. The move comes shortly after former chief operating officer Olivier Le Peuch took over the top job in July, following years of declines in share price and a hit from cuts in spending by U.S. oil and gas producers. "It's not uncommon for companies the size of Schlumberger that when a new CEO comes in to want his/her own CFO in place," Tudor, Pickering, Holt and Co analyst Byron Pope said.
(Bloomberg) -- Activists inside Google are calling on management to ditch deals with oil and gas companies, the latest flare-up inside the technology giant.In a letter published on Monday, more than 1,100 workers asked Google Chief Financial Officer Ruth Porat to release a “company-wide climate plan” that commits to cutting carbon emissions entirely. The letter also asks Google to drop contracts that “enable or accelerate the extraction of fossil fuels.”Since 2017, Google’s cloud-computing unit has disclosed contracts with oil-services giant Schlumberger Ltd., Chevron Corp. and French energy company Total SA. Saudi Arabia’s Aramco, the world’s largest oil company, announced a tentative cloud deal with Google last year, although the internet giant has never confirmed the partnership.“If Google is going to confront its share of responsibility for the climate crisis, that means not helping oil and gas companies extract fossil fuels,” Ike McCreery, an engineer in Google’s cloud division, said in an email. “This is a moment in history that requires urgent and decisive action.”A Google spokeswoman declined to comment, but pointed to comments Porat made in a September blog. "As our business continues to grow, we have expanded the breadth of our efforts to drive positive environmental impact, and make smarter and more efficient use of the Earth’s resources," the CFO wrote in the post.The energy sector is a growing market for cloud providers, which offer tools for storing and analyzing data. Tech’s ties to the industry have prompted protests elsewhere. Some staff at Amazon.com Inc. and Microsoft Corp. have called on their employers to cancel contracts with oil and gas companies. Staff outcry over a Pentagon cloud deal last year caused Google to exit that contract.Alphabet Inc.’s Google has touted its green credentials for years. The company announced the largest ever corporate purchase of renewable energy in September. Starting in 2017, the company has matched the electricity bill from its massive data centers with equal purchases from renewable energy sources.The Google employee letter also asks the company not to do business with U.S. immigration authorities, arguing that more people are being forced to move across borders due to climate change. Google hasn’t disclosed contracts with these agencies, but Business Insider reported that U.S. Customs and Border Protection is testing a Google cloud service called Anthos, which lets organizations use multiple cloud providers at once.McCreery, who helped spearhead the letter, works on Anthos. “It’s devastating to think the infrastructure I’ve helped build over the last five years would be used to help incarcerate climate refugees,” they said.(Updates with CFO comments in sixth paragraph.)To contact the reporter on this story: Mark Bergen in San Francisco at email@example.comTo contact the editors responsible for this story: Jillian Ward at firstname.lastname@example.org, Alistair Barr, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
British oilfield services firm Hunting Plc warned on Tuesday that annual core profit would be at the lower end of market expectations as it grapples with a slowdown in the U.S. onshore drilling market, sending its shares down as much as 7%. Without giving numbers, Hunting said profit for the third-quarter had declined compared with the two preceding quarters while quarterly revenue and operating profit at its biggest unit Hunting Titan also fell.
Anyone interested in Schlumberger Limited (NYSE:SLB) should probably be aware that the Vice President of Investor...