Seeking Alpha - Schlumberger: A Brutal Oil Shock With Long-Lasting Consequences

Summary

• Schlumberger Ltd. posted first-quarter revenues of $7.455 billion, which topped estimates, but declared a $0.125 per share dividend, a cut of 75%.
• The company increased its cash position this quarter to $3.344 billion, with $6.8 billion of liquidity available to the company at the end of the quarter.
• It still makes sense to own such companies long term, but the immediate strategy is to trade short term a large part of your position.

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