Drilling into Schlumberger
At IQ Trends we're bottom-up stock pickers with a dividend-value-centric approach. But that doesn't mean that we are devoid of any long-term macro viewpoints. For example, we are of the firm belief we'll wake up one day to crude oil trading between $150 and $200 per barrel. When that happens is anyone's guess. We just know it's on the cards and sooner or later it's going to happen.
It is a happy circumstance then when we are able to buy stocks that represent historic good value and fit into our long-term outlook. This is why we are long Chevron (CVX), Conoco (COP), ExxonMobil (XOM) and Occidental Petroleum (OXY). It should come as no surprise then that we are also long Schlumberger (SLB). If Mr. Market continues to play along we might get lucky to pick up some more....226 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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