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Analyzing Schlumberger's Earnings prior to Its 1Q17 Results

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Part 2
Analyzing Schlumberger's Earnings prior to Its 1Q17 Results PART 2 OF 9

Analyzing Schlumberger’s Stock Price Movement on April 5

Schlumberger versus the industry

In the past year, Schlumberger (SLB) stock has risen 8% as of April 5, 2017. It’s underperformed the VanEck Vectors Oil Services ETF (OIH), which has generated a 20% return in the same period. OIH is an ETF tracking an index of 25 oilfield equipment and services (or OFS) companies.

The Energy Select Sector SPDR ETF (XLE), the broader energy industry ETF, has produced a return of 16% in the past year. Schlumberger has also underperformed the SPDR S&P 500 ETF (SPY), which has produced a 15% return during the period. The Dow Jones Industrial Average (DJIA-INDEX) has risen 17% in the past year.

Analyzing Schlumberger’s Stock Price Movement on April 5

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Crude oil price and rigs

In the past year, West Texas Intermediate (or WTI) crude oil’s price has risen 35%. The rise in crude oil prices partially explains OIH’s rise. It’s also prompted a revival in the US rig count, which has risen 83% in the past year.

Though crude oil stayed weak in March 2017, so far in April, it’s started showing an upward trend. Read the latest on crude oil in Market Realist’s Crude Oil Prices Could Break Key Resistance of $54 per Barrel.

What could drive SLB’s returns in 2017?

  • exploration spending for North American upstream producers could rise 30%
  • higher US upstream activity could improve OFS companies’ prices and margins

Comparing oilfield services companies

Read about how large-cap OFS companies such as Halliburton (HAL) and National Oilwell Varco (NOV) have been faring recently in Market Realist’s Energy’s Price Recovery Prompts an Oilfield Services Revival

You can also read more about Halliburton in Market Realist’s Halliburton Stock Faces Headwinds amid a Strong Performance.

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