24 Jul

Schlumberger: Returns after Its Q2 2018 Earnings

WRITTEN BY Alex Chamberlin

Schlumberger’s stock price reaction

Schlumberger (SLB) released its second-quarter earnings on July 20. Its stock price reacted negatively immediately following the earnings release, falling 1.2% from the previous day to close at $66.09.

Baker Hughes, a GE company (BHGE) also released its second-quarter results on July 20. BHGE’s stock price fell 0.7% on the day compared to the previous day’s closing price. Halliburton (HAL), the second-largest oilfield equipment and services (or OFS) company by market capitalization, released its second-quarter earnings on July 23.

Schlumberger: Returns after Its Q2 2018 Earnings

SLB’s stock price returns versus the industry

Since April 20, when Schlumberger’s first-quarter financial results were announced, its stock has decreased 4.5% until July 20. In the last three months, SLB has marginally outperformed the VanEck Vectors Oil Services ETF (OIH), which has generated -5.1% returns. OIH tracks an index of 25 oilfield equipment and services companies.

The Energy Select Sector SPDR ETF (XLE), the broader energy industry ETF, has risen 2.2% in the last three months. XLE tracks an index of US energy companies in the S&P 500 Index.

Schlumberger has underperformed the SPDR S&P 500 ETF (SPY), which increased 4.9% during the same period. SPY represents the broader market. The West Texas Intermediate (or WTI) crude oil price has increased 3.0% in the last three months.

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