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Schlumberger N.V. (SLB)

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Company: Schlumberger N.V. (SLB)
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40%
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5 votes

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

Top Contributor: Nathan Strauss | Created when NYSE:SLB was $77.78 | Edit | History

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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33%
agree
6 votes

edit layoffs Indicate that Global Recession will have long term consequences

Top Contributor: Michael McGillen | Created when NYSE:SLB was $41.97 | Edit | History

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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