Breaking News Bar

Business News and Information

Company Update: Schlumberger Limited (NYSE:SLB) – Algeria’s Sonatrach awards well contracts to Schlumberger and NOV

[Reuters] – Algerian state energy company Sonatrach has awarded U.S. oil service firms Schlumberger and National Oilwell Varco contracts for managing well operations, a Sonatrach document seen by Reuters showed. Schlumberger was awarded a $25 million contract for technical assistance and NOV won a $45 million contract after being pre-selected in 2015 by Sonatrach’s drilling division, the document said. U.S. service companies Halliburton and Baker Hughes did not get any agreements in this selection, according to the document. Read more on this. Schlumberger Limited (SLB) , valued at $111.07B, started the session at $77.72. Today, shares have traded between $77.72 and $81.01 per share and has traded between $59.60 and $95.13 over the past 12 months. SLB shares are currently priced at 51.13x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s -1.51x earnings multiple for the same period. The company pays shareholders $2.00 per share in dividend income per year, for a current yield of 2.51%. Consensus earnings for the current quarter by the 37 sell-side analysts covering the stock is an estimate of $0.35 per share, which would be $0.53 worse than the year-ago quarter and a $0.19 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $1.57 would be a $1.80 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $7.01 Billion. If realized, that would be a 22.20% decrease over the year-ago quarter. In terms of ratings, Barclays upgraded SLB from Equal Weight to Overweight (Apr 20, 2016). Previously, Standpoint Research downgraded SLB from Buy to Hold. When considering if the stock is under or overvalued, the average price target is $83.94, which is 8.00% above where the stock opened this morning. See more in (NYSE:SLB) Similar Articles: Company Update (NYSE:SLB): Schlumberger Announces Increase in Maximum Tender Amount and Early Tender Results for Tender Offer for Senior Notes of Cameron International Corporation Company Update: Schlumberger Limited (NYSE:SLB) – Schlumberger-Cameron Merger Receives Chinese Antitrust Approval Market Update (NYSE:SLB): EU clears acquisition of Cameron by Schlumberger
Data & News supplied by
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
bottom clear