36.30 -0.11 (-0.30%)
After hours: 6:50PM EST
|Bid||36.22 x 1800|
|Ask||36.49 x 1000|
|Day's Range||35.31 - 36.50|
|52 Week Range||30.65 - 50.95|
|Beta (3Y Monthly)||1.51|
|PE Ratio (TTM)||N/A|
|Earnings Date||Jan. 16, 2020 - Jan. 20, 2020|
|Forward Dividend & Yield||2.00 (5.54%)|
|1y Target Est||43.85|
(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.
Today we are going to look at Staatl. Mineralbrunnen AG (MUN:SLB) to see whether it might be an attractive investment...
Lower commodity prices and demand for energy products are expected to have affected oil and gas stocks' earnings in the third quarter of 2019.
Anyone interested in Schlumberger Limited (NYSE:SLB) should probably be aware that the Vice President of Investor...
The Zacks Analyst Blog Highlights: Schlumberger, Halliburton, Kinder Morgan, Parsley Energy and TechnipFMC
Schlumberger Limited (“Schlumberger”) today announced that Schlumberger Holdings Corporation, an indirect wholly-owned subsidiary of Schlumberger (“SHC”), will redeem the entire outstanding principal amount of its 3.000% Senior Notes due 2020 (the “2020 Notes”), and that Cameron International Corporation, an indirect wholly-owned subsidiary of Schlumberger (“Cameron”), will redeem the entire outstanding principal amount of its 4.50% Senior Notes due 2021 (the “2021 Notes”) and the entire outstanding principal amount of its 3.60% Senior Notes due 2022 (the “2022 Notes” and, collectively with the 2020 Notes and the 2021 Notes, the “Notes”). The redemption date for each series of Notes is November 21, 2019 (the “Redemption Date”).
Significant exposure to profitable international markets have helped Schlumberger (SLB) and Halliburton (HAL) combat weak North American operations in third-quarter 2019.
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.
(Bloomberg Opinion) -- Poor Halliburton, kicking off Monday morning with news it missed revenue estimates in the third quarter — especially in its main North America business — and then informing Wall Street’s finest this quarter looks pretty dire, too. No wonder the stock … jumped 8%?Put that down to two things. First, Halliburton Co. has lately been about as popular in the market as a fracker at an Elizabeth Warren rally. The stock had lagged the broader oilfield services sector so far this year (which is saying something), and short interest was at its highest level in almost four years. Earnings estimates, which Halliburton actually beat slightly, had collapsed already in January and stayed down. So anything short of catastrophe looked like a win. Second, Halliburton largely dispensed with the happy talk on its call. This is the bit to focus on.It is telling that Halliburton made a point of talking up the prospects for its international business, which generates less than half its revenue. Halliburton typically defines itself by its higher exposure to North America (and thereby the shale boom) vis-a-vis its big rival Schlumberger Ltd. Signing off after questions, though, CEO Jeff Miller declared he was “excited” about the prospects for the international business, while merely expressing confidence that Halliburton’s strategy for dealing with a weaker domestic business was working.That strategy is (more) cost-cutting and outlasting weaker rivals as the downturn in shale drilling and completion intensifies. There will be no holiday season in frackland if Halliburton’s outlook is anything to go by. While the third quarter is typically the busiest, Halliburton noted stage counts — the sections of a horizontal well that get fracked — had declined each month. The company idled more equipment than it had through the entire first half of the year. The outlook for the fourth quarter: “More of the same.” In particular, the number of completed wells might drop below the level of the fourth quarter of 2018, implying a drop of 13% from the quarter just gone. The number of wells drilled certainly points that way:This really shouldn’t come as a shock, given what’s been happening with the U.S. rig count and even the prices of hotel rooms in the Permian basin, where, like fracking equipment, spare capacity has piled up. The big question arising from Halliburton’s numbers and grim commentary — similar to Schlumberger’s — is what it portends for the rest of this earnings season as exploration and production companies report numbers.The mildly hopeful interpretation of the reduced activity weighing on Halliburton is that E&P companies have heeded the call and are diverting more cash flow away from drilling and toward investors. This is what the industry sorely needs in terms of both recovering trust from the financial markets — which look all but closed right now — and moderating the growth in U.S. oil production that is weighing on prices. Halliburton cited its clients’ free cash flow targets as one challenge on Monday’s call.On the other hand, notwithstanding Halliburton’s hopes for its international business, 2020 could be grim for oil and gas markets due to broader economic pressures, such as the trade war. That makes it even more imperative for frackers to show restraint, both to retain cash flow and rebalance supply with demand.Every signal, from their cost of capital to the gloom enveloping contractors, is telling E&P companies to cool it. Even the emergence of securitized “shale bonds” just reported by the Wall Street Journal, while nominally a sign of new capital flowing in, is a signal of desperate measures in desperate times. Apart from its usual services, Halliburton has provided its E&P clients with a script. They should follow it.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 the editorial board or 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/opinion©2019 Bloomberg L.P.
Revenues from Halliburton's (HAL) international operations rose 6.9% from the year-ago period to $2.6 billion, an area that continues to exhibit growth momentum.
Investing.com -- An anti-climactic weekend for Brexit, more happy talk on the U.S.-China trade dispute and some decidedly less happy talk from regulators with regard to Boeing's 737 MAX and Facebook's Libra project. Here's what you need to know in financial markets on Monday, 21st October.
Boeing Co and Johnson & Johnson shares led both the S&P 500's and the Dow's declines. Today's market weakness "has to do with (GDP) news out of China, Boeing and Johnson & Johnson," Cardillo added, saying "market sentiment in terms of earnings is positive."
Boeing Co and Johnson & Johnson shares led the blue-chip Dow's decline. Third-quarter earnings season has hit full stride, with 73 companies in the S&P 500 having reported.
(Bloomberg) -- Wall Street guessed that writedowns from Schlumberger Ltd. were coming, but some analysts were taken aback by the sheer size of the $12.7 billion in pretax charges reported by the oil services company on Friday.The company’s earnings report was its first since Chief Executive Officer Olivier Le Peuch took the reins in August. The writedowns led the company to post its largest net quarterly loss in at least a decade. Schlumberger said on its earnings conference call that the writedowns were part of the new CEO’s strategy.The size of the charges was “eyebrow-raising,” analysts at Tudor, Pickering, Holt & Co. said in a note after the report was released. “Better to rip Band-Aid off sooner vs. later.”Nonetheless, net income excluding one-time items was 43 cents a share, exceeding all 27 estimates from analysts in a Bloomberg survey. Schlumberger’s stock climbed as much as 4.1% in New York trading and was up 2.3% to $32.62 at 11:39 a.m. Eastern time. Most of the charges -- $8.8 billion -- comprised writedowns on goodwill, the intangible asset on a corporate balance sheet that typically arises after the acquisition of another company. Schlumberger cited its 2010 purchase of Smith International Inc. and its takeover of Cameron International Corp. in 2016, and the subsequent deterioration in market conditions.Schlumberger also reported a $1.58 billion charge related to its pressure-pumping business in North America, where the fracking industry is slowing. Citing “ongoing economic challenges in Argentina,” it recorded $127 million of charges due to its activities in the country. It also had $62 million of severance costs in the quarter.(Adds comparison to estimates and share price in fourth paragraph)To contact the reporters on this story: Simon Casey in New York at email@example.com;David Wethe in Houston at firstname.lastname@example.orgTo contact the editors responsible for this story: Simon Casey at email@example.com, Joe Carroll, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Wall Street struggled for direction on Friday as upbeat earnings reports calmed nerves about the global economy after China expanded at its weakest pace in almost 30 years, with Johnson & Johnson also weighing on the blue-chip Dow index. While global equities fell on the third-quarter data, a raft of robust earnings from Coca-Cola Co and Schlumberger NV lifted the mood.
Wall Street was set to open flat on Friday, as upbeat earnings reports calmed nerves about the global economy after China expanded at its weakest pace in almost 30 years. While global equities fell on the third-quarter report, a raft of robust earnings from Coca-Cola Co, American Express Co and Schlumberger NV lifted the mood.
The move, by Olivier Le Peuch, writes down his predecessors' big investments that took the world's largest oilfield services company deeper into shale and oilfield operations and shows that he intends to shift the company toward more asset-light software and services-driven businesses. Excluding the charges, Schlumberger earned 43 cents a share, above the 40 cents estimated by analysts. While revenue, at $8.5 billion, was flat compared with the same period a year earlier, sales rose in all regions except for North America.
Schlumberger (SLB) delivered earnings and revenue surprises of 7.50% and 0.67%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?