Coronavirus is probably the 1 concern in investors' minds right now. It should be. On February 27th we published an article with the title Recession is Imminent: We Need A Travel Ban NOW. We predicted that a US recession is imminent and US stocks will go down by at least 20% in the next 3-6 […]
Schlumberger Limited (NYSE:SLB) will hold a conference call on July 24, 2020 to discuss the results for the second quarter ending June 30, 2020.
Today we'll look at Staatl. Mineralbrunnen AG (MUN:SLB) and reflect on its potential as an investment. Specifically...
U.S. stock indexes were set to open sharply higher on Monday on optimism fueled by encouraging data from a potential COVID-19 vaccine trial, with investors also counting on more stimulus to rescue the economy from a deep economic slump. Drugmaker Moderna Inc said its experimental vaccine for COVID-19 showed promising results in an early stage study. Markets were also encouraged by Federal Reserve Chairman Jerome Powell's remarks over the weekend on a gradual economic recovery, and his affirmation that more monetary stimulus was on the way if required.
The changes will be implemented in phases and are designed to forge "a leaner, simplified and more responsive organization," Chief Executive Olivier Le Peuch said in the memo dated on Wednesday and reviewed by Reuters. Schlumberger has cut hundreds of jobs, reduced executive pay by at least 20% and put some low-tech units up for sale. As part of the restructuring, Schlumberger plans to consolidate its 17 product lines into four divisions to "align with our customer's workflows," the memo said.
Moody's Investors Service ("Moody's") downgraded Schlumberger Ltd's (Schlumberger) issuer rating and the senior unsecured ratings of its guaranteed subsidiaries to A2 from A1, affirmed its Prime-1 short term rating and changed the rating outlook to negative. Moody's also affirmed Schlumberger Holding Corporation's (SHC) Baa1 issuer rating and senior unsecured ratings and its Prime-2 short term rating.
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When it comes to energy stocks, "safety" is in the eye of the beholder.The world faces a massive supply glut as the coronavirus pandemic has simply removed much of the world's demand for oil. Energy has become so depressed that, a few weeks ago, the unthinkable happened: crude futures went negative. This means producers were paying contract holders to take crude off their hands.The energy market has normalized since then, and oil has moved higher, but we're still looking at low average prices not seen since the Clinton administration. Prices are still well below breakeven costs for most energy stocks, even some of oil's elder statesmen. Dividends have been cut or suspended. Some - including Whiting Petroleum (WLL) and Diamond Offshore (DOFSQ) - have filed for bankruptcy, and other oil and gas stocks could face the same fate.Thus, few energy investments feel "safe" right now. But as is the case after every oil crash, some energy stocks will survive. And of that group, some represent considerable bargains. They might not look pretty at the moment; a few have had to cut back on capital projects, even buybacks and dividends. But these moves have made them likelier to survive this downturn and come back swinging on an upturn in oil prices.Here are seven of the best energy stocks to speculate on as oil tries to claw its way back. It could be a bumpy ride - every one of them could experience more volatility if oil prices swing wildly again. But thanks to smart fiscal management so far in this crisis, they might pan out well for adventurous investors. SEE ALSO: 50 Top Stock Picks That Billionaires Love
As of April 24, nine S&P 500 companies had suspended their dividends this month and about half a dozen others announced decreases because of the fallout from the coronavirus pandemic.
Schlumberger (SLB) and Halliburton (HAL), despite Q1 beats, warned that the impact of coronavirus pandemic and the oil price slump will be felt more severely in the upcoming quarters.
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The move adds urgency to a question that investors have already begun to ask about other industry players: If oil companies don’t pay big dividends, what’s the point of owning their stocks?
U.S. stocks close sharply lower Tuesday, driving the major indexes to the lowest levels in about two weeks, as highflying information technology shares give up ground, and a historic collapse in oil prices undercut the bullish mood on Wall Street.
Schlumberger (SLB) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
The oil services giant is planning more changes to deal with sharply lower oil prices and drilling activity as demand fell from COVID-19 pandemic impacts.
Oil prices rose and so did shares of energy services companies, as investors hope the worst is over in the oil patch.