'Big Slob' Is Back in Buying Range
Schlumberger (SLB) is affectionately called "SLOB" by floor traders because of its ticker symbol. The oilfield-services giant is expected to close out 2012 with a third straight year of improved earnings. Earnings per share will grow to about $4.18 this year from $2.59 in 2009 if the fourth quarter meets estimates. A 61%-higher EPS normally translates into a nice spike in share price. Schlumberger peaked above $95 about 16 months ago.
European malaise, somewhat lower oil pricing and a general aversion to equities have returned SLB shares, which closed Friday at $67.96, to right about where they traded in early 2010. The improved fundamentals and two dividend increases make SLB very attractive....225 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.