NEW YORK (TheStreet) -- Shares of Schlumberger (SLB) are down -0.94% to $108.18 after the oil field services company said that U.S. and European economic sanctions against Russia over the Ukraine crisis will have a limited impact on the its third quarter financial results, the Wall Street Journal reports.
The company said it estimates the impact on its earnings at three cents a share. Analysts project per share earnings of $1.51, according to Thomson Reuters.
"The sanctions are placing some restrictions on the engagement of certain people and equipment in our Russian operations, which in the short term will have an impact on operational efficiency and costs in Russia," Schlumberger said.
TheStreet Ratings team rates SCHLUMBERGER LTD as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate SCHLUMBERGER LTD (SLB) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income."