What’s the Market Saying about Schlumberger?

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What’s the Market Saying about Schlumberger? PART 1 OF 3

Schlumberger’s One-Week Returns

Schlumberger’s one-week returns versus the industry

Schlumberger’s (SLB) one-week return was 1% as of September 29. Since September 22, the Energy Select Sector SPDR ETF (XLE) has risen 2%. XLE represents the broader energy industry. The VanEck Vectors Oil Services ETF (OIH), an ETF representing 25 oilfield services stocks, saw 3% one-week returns. So, SLB has underperformed both XLE and OIH in the past week. The Dow Jones Industrial Average (DJIA-INDEX) remained unchanged as of September 29. The SPDR S&P 500 ETF (SPY), since September 22, performed in line with SLB. SPY gave 1% returns during this period.

On September 29, the West Texas Intermediate (or WTI) crude oil price was 2% higher a than a week ago. Led by the crude oil price strength, a five more rigs were added in the United States last week. Learn more about the energy sector’s recent drivers in Market Realist’s Are US Crude Oil Supplies Getting Bearish for Oil Prices?Schlumberger’s One-Week Returns

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Recent events that can affect Schlumberger’s returns

  • According to the latest media news, the Federal Antimonopoly Service (or FAS), a Russian competition regulator, cautioned that a deal with the US company would be risky due to the current state of US sanctions on Russia. On July 20, SLB signed an agreement with EDC to acquire a 51% controlling stake in Eurasia Drilling Co. (or EDC).
  • SLB announced that it introduced the DELFI cognitive E&P environment on September 13. DELFI is designed to leverage digital technologies such as security, analytics and machine learning, high-performance computing, and the Internet-of-Things to improve efficiency and production.
  • US onshore energy activity is expected to remain strong in 2H17. SLB’s hydraulic fracturing calendar is booked well into 4Q17 on improved demand for drilling services.
  • Russia and OPEC Gulf countries’ strong activity in the remainder of 2017 could benefit Schlumberger.
  • SLB is scheduled to complete the OneStim joint venture (or JV) with Nabors Industries (NBR) in 2H17. The joint venture could provide additional hydraulic horsepower capacity and a full suite of multi-stage completion technology.

Read more about Schlumberger in Schlumberger Sees Twists and Turns before Its Recovery.

Series highlight

In this series, we’ll look at Schlumberger and its correlation with crude oil. We’ll discuss Schlumberger’s stock price forecast next.


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