Schlumberger's Cautious Near-Term Outlook Disappoints
Schlumberger shares sold off 3% on Oct. 21, in large part because investors found management’s outlook more pessimistic for the coming quarters than expected. Given our cautious near-term outlook on oil market fundamentals, this tempered view lines up with our thinking pretty well: Schlumberger remains as well-positioned as any firm to capitalize on increased upstream spending, but it’s far from certain if a surge in industry spending is coming in the first half of 2017 or a few quarters thereaf...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.
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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.
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