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Schlumberger Limited posts

Has Schlumberger Put in a Bottom at $51?

Posted Oct 19th 2010 4:40PM by Joseph Lazzaro (RSS feed)
Filed under: Schlumberger Limited (SLB), Stocks to Buy

With the United State having lifted its offshore drilling moratorium, it's reasonably safe to consider oil servicer Schlumberger Ltd (SLB), first written about on May 6, 2009 at a price of $56.09. SLB took it on the chin this summer, falling from $74 to about $51 with much of that plunge related to offshore sector uncertainty following BP Plc.'s (BP) massive Deepwater Horizon spill.

SLB has also announced it will buy Smith International (SII) for about $11.4 billion, subject to approvals -- a deal that will be slightly dilutive in 2011 but accretive in 2012.

Continue reading Has Schlumberger Put in a Bottom at $51?

Consider Schlumberger, because oil isn't going out of style

Posted Nov 18th 2009 6:00PM by Joseph Lazzaro (RSS feed)
Filed under: Schlumberger Limited (SLB), Stocks to Buy

One can look at likely rising oil and gasoline prices one of two ways. You can get frustrated, or you can profit from it by buying Schlumberger Ltd. (SLB), which is why I'm reiterating my buy rating for the company, first recommended on May 6, 2009 at a price of $56.09. If you bought SLB in May, you're up about 18%.

Some in the oil sector remain concerned about the recovery in demand for oilfield services. Based on the growth track for emerging markets, that concern is not warranted: the natural gas segment may encounter some head-winds, near-term, because in that energy commodity, the glut of supply has actually been matched by a low price. But oil? Forget about it. Business is booming: the supply glut of oil has done little to lower its price, which shows one the many roles oil plays (alternative asset, inflation hedge, weak dollar hedge) in the modern economy, to Schlumberger's benefit. The First Call FY2009/FY2010 EPS estimates for SLB are $2.71 to $2.81.

Continue reading Consider Schlumberger, because oil isn't going out of style