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Schlumberger (SLB) to Redeem $664M of Senior Notes Due 2021
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Schlumberger Limited (SLB - Free Report) announced that its indirect wholly-owned subsidiary Schlumberger Investment SA (“SISA”) will redeem all $664,776,000 principal amount outstanding of its 3.300% senior notes, which are scheduled to get matured by 2021.
Notably, the company will repay the above-mentioned senior notes on Jun 28, 2021, as part of its continued efforts to reduce debt.
The outstanding notes will be redeemed at a redemption price of 100% of the aggregate principal amount along with accrued and unpaid interest on the notes if there is one. The company concluded that the senior notes will cease to be outstanding and the interest on the notes will cease to accrue on and after the redemption date.
Notably, the oilfield service player expects its cashflow to continue to grow, which will allow it to further lower its debt load. The company anticipates higher cashflow to stem from increased activities in more profitable international markets. This is being backed by a brightening fuel demand outlook.
Schlumberger’s debt-reduction initiatives are highly appreciable since the company’s debt exposure is significantly higher than the composite stocks belonging to the industry. In fact, its debt-to-capitalization ratio is consistently higher than the industry over the past two years.
Company Profile & Price Performance
Headquartered in Houston, TX, Schlumberger is a leading oilfield service provider.
Shares of the company have outperformed the industry in the past six months. Its stock has gained 44.8% compared with the industry’s 23% growth.
Image Source: Zacks Investment Research
Zacks Rank & Stocks to Consider
The company currently carries has a Zacks Rank #3 (Hold).
Over the past 60 days, the Zacks Consensus Estimate for PDC Energy’s 2021 earnings has been raised by 46.9%.
Oasis’ earnings for 2021 are expected to increase 11.7% year over year.
Sasol’s earnings for 2021 are expected to surge 81.5% year over year.
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Image: Bigstock
Schlumberger (SLB) to Redeem $664M of Senior Notes Due 2021
Schlumberger Limited (SLB - Free Report) announced that its indirect wholly-owned subsidiary Schlumberger Investment SA (“SISA”) will redeem all $664,776,000 principal amount outstanding of its 3.300% senior notes, which are scheduled to get matured by 2021.
Notably, the company will repay the above-mentioned senior notes on Jun 28, 2021, as part of its continued efforts to reduce debt.
The outstanding notes will be redeemed at a redemption price of 100% of the aggregate principal amount along with accrued and unpaid interest on the notes if there is one. The company concluded that the senior notes will cease to be outstanding and the interest on the notes will cease to accrue on and after the redemption date.
Notably, the oilfield service player expects its cashflow to continue to grow, which will allow it to further lower its debt load. The company anticipates higher cashflow to stem from increased activities in more profitable international markets. This is being backed by a brightening fuel demand outlook.
Schlumberger’s debt-reduction initiatives are highly appreciable since the company’s debt exposure is significantly higher than the composite stocks belonging to the industry. In fact, its debt-to-capitalization ratio is consistently higher than the industry over the past two years.
Company Profile & Price Performance
Headquartered in Houston, TX, Schlumberger is a leading oilfield service provider.
Shares of the company have outperformed the industry in the past six months. Its stock has gained 44.8% compared with the industry’s 23% growth.
Zacks Rank & Stocks to Consider
The company currently carries has a Zacks Rank #3 (Hold).
Some better-ranked players in the energy space are PDC Energy, Inc. , Oasis Petroleum Inc. and Sasol Ltd. (SSL - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 60 days, the Zacks Consensus Estimate for PDC Energy’s 2021 earnings has been raised by 46.9%.
Oasis’ earnings for 2021 are expected to increase 11.7% year over year.
Sasol’s earnings for 2021 are expected to surge 81.5% year over year.
Time to Invest in Legal Marijuana
If you’re looking for big gains, there couldn’t be a better time to get in on a young industry primed to skyrocket from $17.7 billion back in 2019 to an expected $73.6 billion by 2027.
After a clean sweep of 6 election referendums in 5 states, pot is now legal in 36 states plus D.C. Federal legalization is expected soon and that could be a still greater bonanza for investors. Even before the latest wave of legalization, Zacks Investment Research has recommended pot stocks that have shot up as high as +285.9%
You’re invited to check out Zacks’ Marijuana Moneymakers: An Investor’s Guide. It features a timely Watch List of pot stocks and ETFs with exceptional growth potential.
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