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Investing Topics: Schlumberger

Oil-Field Services and Equipment: Exercise Caution

Despite the recent rally in shares of oil-field service providers, our negative outlook for activity levels in the international market and skepticism regarding the timing and magnitude of a recovery in North America explains why we remain underweight oil-field services and capital equipment. Many of these stocks have rallied too far, too fast and don’t account for overcapacity that remains to be worked off from the boom years.

The View from the Oil-Field Services Industry

Schlumberger’s wide-ranging earnings calls have long provided investors with useful insights into bigger-picture trends and developments affecting the energy value chain, thanks to the firm’s forthright management team and the breadth of its oil-field service offerings. In these uncertain times, investors should heed CEO Paal Kibsgaard comments on the supply-demand balance in global oil markets and the various forces pushing and pulling crude prices.

Key Takeaways from Schlumberger’s Fourth-Quarter Earnings Call

In these uncertain times, Schlumberger’s quarterly conference calls are must-attend events; here are our key takeaways from the last week’s call, our updated thoughts on the oil-field services company as an investment and read-throughs for other energy companies.

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