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Company: Schlumberger N.V. (SLB)
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12 votes

  The stock price is still high - with a P/E ratio of 26

The stock price is still high - with a P/E ratio of 26, investors pay more for earnings from Schlumberger than they do for its competitors, suggesting that the company has already incorporated a fair amount of optimism regarding 2007 and returns in the future. Any production deficit could cause a downward correction in stock price.

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9 votes

  layoffs Indicate that Global Recession will have long term consequences

With both Chevron and Exxon Mobil expecting lower earnings in the last quarter of 2008, Schlumberger plans to cut up to 10% of its 70,000 workers worldwide amid less demand for oil services. The layoffs are in an effort to cut costs, which increased 19% in the fourth quarter of 2008 as profits fell 17%. These massive layoffs indicate that Schlumberger management believes that demand for oil services will remain low in 2009.

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