Schlumberger (SLB) Q4 Results Bode Well For Oil Services

Article Related Press Releases (1) Related Articles (1) Stock Quotes (1) Comments (0)

Analysts at FBR Capital think Schlumberger's (NYSE: SLB) earnings report last week bodes well for oilfield service stocks and supports their belief that U.S. well count should be up substantially in 2013.

"One of the largest takeaways from the conference call was the promising outlook for offshore activity in 2013. U.S," said analyst Robert MacKenzie. The company also expressed optimism for land drilling, with rig count seen rising 100 to 150 in Q1.

Additionally, international operations "appear to be firing on all cylinders", said the analyst.

FBR Capital reiterated an Outperform rating on Schlumberger and raised its price target to $100.00 (from $92.00).

For an analyst ratings summary and ratings history on Schlumberger (NYSE: SLB) click here. For more ratings news on Schlumberger click here.

Shares of Schlumberger closed at $76.50 yesterday, with a 52 week range of $59.12-$80.78.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• UPDATE: UBS Downgrades Carnival (CCL) to Neutral; Worst May Not Be Behind
• Deutsche Bank Starts Taylor Morrison Home (TMHC) at Hold, Says 'Risks Downplayed'
• UPDATE: Michael Kors (KORS) Under-Appreciated; Canaccord Genuity Starts at Buy

Create E-mail Alert Related Categories

Analyst Comments, Analyst EPS View, Analyst PT Change

Related Entities

Earnings

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?