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Schlumberger
Posted on 2/17/22 at 7:53 am
Posted on 2/17/22 at 7:53 am
Does anyone know why Schlumberger is at $49? Last time oil was $80, Schlumberger hit $70. Oil looks to hit $100, and they had a huge 4th quarter. Not sure why the price isn't climbing.
4
Posted on 2/17/22 at 8:21 am to Taxman2010
Oil averaged $80 a barrel in 2010 (it averaged mid $90s from 2011-2014). Schlumberger debt is nearly triple now what it was then. They have $14 billion in debt whereas in 2010 they had less than $5 billion in debt. There has also been some stock dilution (about 200 million shares). More shares and way more debt equal a stock price that is pretty much in line with where it was the last time oil averaged $80 a barrel.
This post was edited on 2/17/22 at 8:21 am
Posted on 2/17/22 at 9:29 am to Taxman2010
Schlumberger provides services that are generally associated with drilling activity. You'd probably be better off trying to correlate rig counts to SLB's stock price. Oil prices are high right now because there hasn't been much drilling over the last 2 years. The E&P companies (XOM, CVX, etc) are currently benefitting from high prices on existing wells - wells that the service companies (SLB) frac'd years ago. Higher prices should stoke more activity but with the sector focused on living within cash flow and ESG headwinds related to fossil fuels, a bet on SLB is not one I'm willing make.
Posted on 2/17/22 at 10:20 am to Taxman2010
quote:
Not sure why the price isn't climbing.
SLB up 40% YTD
Posted on 2/17/22 at 12:03 pm to Taxman2010
One of the worst service companies to work for
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