Schlumberger And Subsea To Create A New JV, Stocks Rise

By Zacks Investment ResearchStock MarketsFeb 26, 2018 09:20PM ET

www.investing.com/analysis/schlumberger-and-subsea-to-create-a-new-jv-stocks-rise-200294465

Schlumberger And Subsea To Create A New JV, Stocks Rise

By Zacks Investment Research | Feb 26, 2018 09:20PM ET

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SLB

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Schlumberger Limited (NYSE:SLB) recently announced that the company is considering an opportunity to form a joint venture (JV) with Subsea 7 S.A. (OTC:SUBCY) to provide clients with better subsea installations and oilfield services, derived from their Subsea Integration Alliance's success. Following the news of JV formation, Schlumberger gained 2.4% and Subsea stocks added 7.1% on last Friday.

The JV is expected to improve client efficiency and provide cost synergies to the partners, which will in turn, result in increasing total production. It will enable the companies to offer their clients more integrated deepwater services. Per the deal, both the companies in the 50-50 partnership can provide non-integrated products and services individually to their clients.

Such JV’s are common in the industry where it operates. At the beginning of last year, TechnipFMC plc (NYSE:FTI) came into existence following the merger between Technip (PA:FTI) and FMC Technologies. It is engaged in the designing, producing and servicing of technologically sophisticated systems and products for subsea, onshore/offshore, and surface projects. Forming the JV is expected to enable the partnership obtain higher market share.

Price Performance

Schlumberger has lost 17.9% in the last year compared with 26.7% decline of its industry.

About the Companies

Houston, TX-based Schlumberger is a leading oilfield services company, providing technology, project management and information services to the global oil and gas industry. Schlumberger’s reporting segments can be categorized into four segments: Reservoir Characterization, Drilling, Production and Cameron. The company is currently operating in more than 85 countries.

On the other hand, based in London, UK, Subsea is a provider of several technical solutions to the offshore energy industry.

Zacks Rank and Stocks to Consider

Schlumberger carries a Zacks Rank #3 (Hold).

A better-ranked stock in the oil and energy sector is Pioneer Natural Resources Company (NYSE:PXD) , which sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Irving, TX-based Pioneer Natural Resources is an independent oil and gas exploration and production company. Its revenues for first-quarter 2018 are expected to improve 22.8% from the year-ago quarter. For 2018, the bottom line is anticipated to be up 166.2%.

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TechnipFMC (FTI): Free Stock Analysis Report

Schlumberger Limited (SLB): Free Stock Analysis Report

Subsea 7 SA (SUBCY): Free Stock Analysis Report

Pioneer Natural Resources Company (PXD): Free Stock Analysis Report

Original post

Zacks Investment Research

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Schlumberger And Subsea To Create A New JV, Stocks Rise

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