CLSA Downgrades Schlumberger (SLB) to Underperform
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Go back to CLSA Downgrades Schlumberger (SLB) to Underperform
April 20, 2015 11:04 AM EDT
UBS maintained a Buy rating on Schlumberger (NYSE: SLB) and raised its price target to $110.00 (from $95.00). Analyst Angie Sedita noted better than expected decremental margins.
"While industry conditions are undeniably challenging and expected to remain so in both 2015 & 2016, SLB has impressively... More
April 16, 2015 4:07 PM EDT
Schlumberger Ltd. (NYSE: SLB) reported Q1 EPS of $1.06, $0.09 better than the analyst estimate of $0.97. Revenue for the quarter came in at $10.25 billion versus the consensus estimate of $10.55 billion.
Schlumberger Chairman and CEO Paal Kibsgaard commented, Schlumberger first-quarter revenue decreased 19% sequentially driven by the severe decline in North American land activity and associated pricing pressure. International operations were impacted by reduced customer spend in addition to seasonal effects in the Northern Hemisphere and the fall in value of the Russian ruble and the Venezuelan bolivar. Three-quarters of the overall sequential decline was due to... More
