Schlumberger Reports Fourth-Quarter Results in Line With Our Expectations; Announces Seismic Exit
Upon initial review of Schlumberger’s fourth-quarter financial results, we are leaving our fair value estimate unchanged. Operating income of $1,155 million, a solid 9% sequential increase from the third quarter, fell right in line with our expectations. Our narrow moat rating also remains in place.Looking at the results of the company’s key competitor, Halliburton, we note that both companies are now solidly in the mid-teens in operating margins (14.1% for Schlumberger and 14.5% for Halliburt...
Schlumberger provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The company has four segments: Reservoir Characterization, which consists of the principal technologies involved in finding and defining hydrocarbon resources; Drilling, which consists of the principal technologies involved in the drilling and positioning of oil and gas wells; Production, which consists of the principal technologies involved in the lifetime production of oil and gas reservoirs; and Cameron, which consists of the principal technologies involved in pressure and flow control for drilling and intervention rigs, oil and gas wells and production facilities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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