|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||13.77 - 14.09|
|52-week range||12.00 - 4,630.00|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Schlumberger Limited ("Schlumberger") today announced that Schlumberger Oilfield UK Plc, an indirect wholly-owned subsidiary of Schlumberger ("SLB UK"), will redeem the entire outstanding principal amount of its 4.200% Senior Notes due 2021 (CUSIP Nos. 80685QAA4/G7861RAA4; ISIN Nos. US80685QAA40/USG7861RAA44; and Common Codes 56301097/56301046) (the "Notes"). The redemption date for the Notes is June 29, 2020 (the "Redemption Date"). The Notes are currently listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Euro MTF market.
Schlumberger Limited (NYSE:SLB) will hold a conference call on July 24, 2020 to discuss the results for the second quarter ending June 30, 2020.
The oil services giant is planning more changes to deal with sharply lower oil prices and drilling activity as demand fell from COVID-19 pandemic impacts.
The changes will be implemented in phases and are designed to forge "a leaner, simplified and more responsive organization," Chief Executive Olivier Le Peuch said in the memo dated on Wednesday and reviewed by Reuters. Schlumberger has cut hundreds of jobs, reduced executive pay by at least 20% and put some low-tech units up for sale. As part of the restructuring, Schlumberger plans to consolidate its 17 product lines into four divisions to "align with our customer's workflows," the memo said.
Oil prices rose and so did shares of energy services companies, as investors hope the worst is over in the oil patch.
Schlumberger (SLB) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Schlumberger expects overall global spending to fall roughly 20% in 2020, with a 40% drop in North America. While OPEC and allies agreed to reduce output next month by 9.7 million barrels per day (bpd) to buttress crude prices, the flood of oil on markets and business lockdowns from the coronavirus continue to hit oil prices. The second quarter "is likely to be the most uncertain and disruptive quarter the industry has ever seen," Chief Executive Olivier Le Peuch told investors on Friday.
While it is gearing up to be a relatively quiet Friday, investors will closely monitoring coronavirus-related developments and key earnings announcements from Kansas City Southern and Schlumberger.
The oil and gas industry is cancelling key networking events and academic and technical meetings, shifting some to virtual conferences, due to concerns about the coronavirus and its fast-growing toll of more than 100,000 cases worldwide. A major energy conference planned by investment firm Scotia Howard Weil in New Orleans in late March may go virtual, a spokesperson for the company said on Friday, suggesting speakers could present via webcast. The Society of Petroleum Engineers rescheduled its Latin American and Caribbean Petroleum Engineering Conference in Bogota, Colombia, citing public health concerns, according to its website.
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 firstname.lastname@example.orgTo contact the editor responsible for this story: Mark Gongloff at email@example.comThis 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.