Frackers Preach Patience on Payoff From $70 Oil, Growth in Shale [Bloomberg Business News]
Schlumberger N.V. (SLB)
Last schlumberger n.v. earnings: 4/17 06:50 am
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Source: Bloomberg Business News
By David Wethe Early results failed to excite but CEOs say they’re gearing up Schlumberger adding pumps, Halliburton sees 20% profit ahead The world’s biggest oilfield service companies have a message for investors: There’s a payoff for patience. While first-quarter earnings were less than exciting, Schlumberger Ltd. , the largest service provider, said it plans to profitably add about 1 million horsepower worth of rock-crushing pumps this year into North American shale. Halliburton Co. , the fracking king, said it sees a return to the 20 percent profit margins last seen before the downturn. Their optimism comes as oil prices drive toward $70 a barrel in New York, a strong psychological signal of recovery, while Saudi Arabia has said it sees $80 oil in the foreseeable future. Prices at that level could loosen the leash on what explorers will pay service providers to o
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- Schlumberger Limited (NYSE: SLB) had its price target raised by analysts at Bank of America Co. from $62.00 to $63.00. They now have a "buy" rating on the stock.MarketBeat
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SLB
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- 4/19/24 - Beat
SLB
Sec Filings
- 4/19/24 - Form 8-K
- 4/18/24 - Form 4
- 4/3/24 - Form 8-K
- SLB's page on the SEC website