Jefferies Raises price Target on Schlumberger Ltd. (SLB) with Increased Confidence; Reiterates Hold

Schlumberger Announces First-Quarter 2016 Results

April 21, 2016 4:15 PM EDT

Revenue of $6.5 billion decreased 16% sequentially EPS of $0.40 declined 38% sequentially, excluding charges and credits Repurchased 7.1 million shares for $475 million during the quarter Quarterly cash dividend of $0.50 per share approved Cameron merger closed on April 1, 2016

HOUSTON--(BUSINESS WIRE)-- Schlumberger Limited (NYSE: SLB) today reported results for the first quarter of 2016.

    (Stated in millions, except per share amounts) Three Months Ended     Change Mar. 31, 2016     Dec. 31, 2015     Mar. 31, 2015 Sequential     Year-on-year Revenue $ 6,520 $ 7,744 $ 10,248 -16 % -36 % Pretax operating income 901 1,288 1,993 -30 % -55 % Schlumberger net income, excluding charges and credits*... More