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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 8/10

vs
industry
vs
history
Cash to Debt 0.55
SLB's Cash to Debt is ranked higher than
53% of the 265 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.50 vs. SLB: 0.55 )
Ranked among companies with meaningful Cash to Debt only.
SLB' s 10-Year Cash to Debt Range
Min: 0.03  Med: 0.52 Max: 1.72
Current: 0.55
0.03
1.72
Equity to Asset 0.59
SLB's Equity to Asset is ranked higher than
61% of the 267 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.51 vs. SLB: 0.59 )
Ranked among companies with meaningful Equity to Asset only.
SLB' s 10-Year Equity to Asset Range
Min: 0.27  Med: 0.54 Max: 0.62
Current: 0.59
0.27
0.62
Interest Coverage 26.51
SLB's Interest Coverage is ranked higher than
57% of the 171 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 12.32 vs. SLB: 26.51 )
Ranked among companies with meaningful Interest Coverage only.
SLB' s 10-Year Interest Coverage Range
Min: 1.59  Med: 16.41 Max: 28.74
Current: 26.51
1.59
28.74
F-Score: 5
Z-Score: 4.44
M-Score: -3.03
WACC vs ROIC
9.99%
12.80%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating margin (%) 19.03
SLB's Operating margin (%) is ranked higher than
81% of the 275 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 5.94 vs. SLB: 19.03 )
Ranked among companies with meaningful Operating margin (%) only.
SLB' s 10-Year Operating margin (%) Range
Min: 3.65  Med: 15.44 Max: 29.1
Current: 19.03
3.65
29.1
Net-margin (%) 9.71
SLB's Net-margin (%) is ranked higher than
74% of the 275 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 2.75 vs. SLB: 9.71 )
Ranked among companies with meaningful Net-margin (%) only.
SLB' s 10-Year Net-margin (%) Range
Min: -24.02  Med: 11.89 Max: 21.83
Current: 9.71
-24.02
21.83
ROE (%) 11.18
SLB's ROE (%) is ranked higher than
74% of the 270 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 3.46 vs. SLB: 11.18 )
Ranked among companies with meaningful ROE (%) only.
SLB' s 10-Year ROE (%) Range
Min: -33.18  Med: 16.95 Max: 41.19
Current: 11.18
-33.18
41.19
ROA (%) 6.52
SLB's ROA (%) is ranked higher than
76% of the 276 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.94 vs. SLB: 6.52 )
Ranked among companies with meaningful ROA (%) only.
SLB' s 10-Year ROA (%) Range
Min: -11.11  Med: 9.40 Max: 20.43
Current: 6.52
-11.11
20.43
ROC (Joel Greenblatt) (%) 28.60
SLB's ROC (Joel Greenblatt) (%) is ranked higher than
84% of the 274 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 6.77 vs. SLB: 28.60 )
Ranked among companies with meaningful ROC (Joel Greenblatt) (%) only.
SLB' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: 9.22  Med: 33.34 Max: 92.13
Current: 28.6
9.22
92.13
Revenue Growth (3Y)(%) 8.70
SLB's Revenue Growth (3Y)(%) is ranked higher than
53% of the 220 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 7.40 vs. SLB: 8.70 )
Ranked among companies with meaningful Revenue Growth (3Y)(%) only.
SLB' s 10-Year Revenue Growth (3Y)(%) Range
Min: -26.6  Med: 8.80 Max: 33.3
Current: 8.7
-26.6
33.3
EBITDA Growth (3Y)(%) 8.30
SLB's EBITDA Growth (3Y)(%) is ranked lower than
51% of the 184 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 8.40 vs. SLB: 8.30 )
Ranked among companies with meaningful EBITDA Growth (3Y)(%) only.
SLB' s 10-Year EBITDA Growth (3Y)(%) Range
Min: -25.8  Med: 9.60 Max: 44.5
Current: 8.3
-25.8
44.5
EPS Growth (3Y)(%) 7.50
SLB's EPS Growth (3Y)(%) is ranked higher than
54% of the 142 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 6.00 vs. SLB: 7.50 )
Ranked among companies with meaningful EPS Growth (3Y)(%) only.
SLB' s 10-Year EPS Growth (3Y)(%) Range
Min: -30.1  Med: 7.50 Max: 106.9
Current: 7.5
-30.1
106.9
» SLB's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2014

SLB Guru Trades in Q3 2014

John Rogers 9,627 sh (New)
Jim Chanos 85,072 sh (New)
Jim Simons 661,593 sh (New)
Paul Tudor Jones 2,504 sh (New)
Louis Moore Bacon 19,782 sh (New)
Ruane Cunniff 64,536 sh (+2284.92%)
John Burbank 1,723,849 sh (+201.62%)
RS Investment Management 68,860 sh (+23.41%)
David Rolfe 2,298,360 sh (+6.41%)
Tom Gayner 327,000 sh (+5.48%)
Joel Greenblatt 46,575 sh (+2.46%)
Dodge & Cox 36,083,334 sh (+2.04%)
Tom Russo 2,875 sh (+1.77%)
Frank Sands 13,768,762 sh (+1.34%)
Murray Stahl 8,769 sh (unchged)
John Keeley 2,550 sh (unchged)
First Eagle Investment 900 sh (unchged)
John Hussman 100,000 sh (unchged)
David Tepper 598,400 sh (unchged)
Chuck Royce 288 sh (unchged)
John Burbank 4,850,000 sh (unchged)
Pioneer Investments 1,869,601 sh (unchged)
Louis Moore Bacon 100,000 sh (unchged)
Caxton Associates 75,000 sh (unchged)
Ray Dalio Sold Out
Steven Cohen Sold Out
Ken Heebner Sold Out
Chris Davis Sold Out
Ken Fisher 4,165,444 sh (-0.07%)
Bill Frels 2,127,719 sh (-0.15%)
Mario Gabelli 21,196 sh (-1.40%)
PRIMECAP Management 5,791,485 sh (-1.51%)
Manning & Napier Advisors, Inc 6,838,658 sh (-16.64%)
Brian Rogers 2,326,400 sh (-23.13%)
Signature Select Canadian Fund 82,800 sh (-48.35%)
» More
Q4 2014

SLB Guru Trades in Q4 2014

T Boone Pickens 3,958 sh (New)
Steven Cohen 56,835 sh (New)
Paul Tudor Jones 31,502 sh (+1158.07%)
John Rogers 51,362 sh (+433.52%)
Joel Greenblatt 154,728 sh (+232.21%)
Jim Simons 1,280,432 sh (+93.54%)
David Rolfe 4,138,543 sh (+80.07%)
Dodge & Cox 46,514,140 sh (+28.91%)
Tom Gayner 405,000 sh (+23.85%)
Frank Sands 15,935,526 sh (+15.74%)
Frank Sands 15,935,526 sh (+15.74%)
Pioneer Investments 2,089,082 sh (+11.74%)
Bill Frels 2,284,921 sh (+7.39%)
PRIMECAP Management 5,793,608 sh (+0.04%)
Brian Rogers 2,326,400 sh (unchged)
Tom Russo 2,875 sh (unchged)
John Keeley 2,550 sh (unchged)
First Eagle Investment 900 sh (unchged)
Chuck Royce 288 sh (unchged)
Steven Cohen 105,000 sh (unchged)
Steven Cohen 25,000 sh (unchged)
John Burbank 250,000 sh (unchged)
John Hussman Sold Out
Louis Moore Bacon Sold Out
David Tepper Sold Out
Ken Fisher 4,126,973 sh (-0.92%)
Murray Stahl 8,679 sh (-1.03%)
Mario Gabelli 20,831 sh (-1.72%)
Manning & Napier Advisors, Inc 6,605,813 sh (-3.40%)
RS Investment Management 52,995 sh (-23.04%)
Jim Chanos 62,700 sh (-26.30%)
Ruane Cunniff 18,496 sh (-71.34%)
John Burbank 70,538 sh (-95.91%)
» More
Q1 2015

SLB Guru Trades in Q1 2015

John Rogers 209,300 sh (+307.50%)
Ruane Cunniff 40,386 sh (+118.35%)
Tom Gayner 545,000 sh (+34.57%)
Dodge & Cox 56,942,812 sh (+22.42%)
Manning & Napier Advisors, Inc 7,042,280 sh (+6.61%)
Murray Stahl 9,064 sh (+4.44%)
David Rolfe 4,262,624 sh (+3.00%)
Frank Sands 16,359,854 sh (+2.66%)
Bill Frels 2,330,967 sh (+2.02%)
Ken Fisher 4,170,157 sh (+1.05%)
First Eagle Investment 900 sh (unchged)
Mario Gabelli 20,831 sh (unchged)
Brian Rogers 2,326,400 sh (unchged)
RS Investment Management 52,995 sh (unchged)
Steven Cohen 400,000 sh (unchged)
John Keeley 2,550 sh (unchged)
Signature Select Canadian Fund Sold Out
Steven Cohen Sold Out
Chuck Royce Sold Out
PRIMECAP Management 5,792,194 sh (-0.02%)
Jim Simons 1,276,993 sh (-0.27%)
Tom Russo 2,825 sh (-1.74%)
Jim Chanos 49,530 sh (-21.00%)
Joel Greenblatt 116,556 sh (-24.67%)
Pioneer Investments 1,539,720 sh (-26.30%)
John Burbank 21,250 sh (-69.87%)
Paul Tudor Jones 5,886 sh (-81.32%)
» More
Q2 2015

SLB Guru Trades in Q2 2015

Ken Fisher 4,239,723 sh (+1.67%)
Manning & Napier Advisors, Inc 6,729,199 sh (-4.45%)
Brian Rogers 926,400 sh (-60.18%)
» More
» Details

Insider Trades

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Guru Investment Theses on Schlumberger NV

Dodge & Cox’s Stock Fund Comments on Schlumberger NV - Feb 16, 2015

Schlumberger (SLB), the world’s leading oil services company, is the most technologically-focused company among the integrated oilfield service companies, with double the R&D budget of its closest peer. We believe that its consistent spending on technology (e.g., enhanced recovery techniques, seismic interpretation, directional drilling) has provided the company with a competitive advantage that is sustainable over time. The company’s innovation efforts have enabled the industry to extract oil and gas from deepwater and shale resources that were previously cost-prohibitive or physically challenging to reach. Schlumberger is the dominant international provider in key markets, including the Middle East and Russia. The majority of its revenues come from outside the United States, and its international business has higher margins than its U.S. operations. We believe that Schlumberger is well positioned to continue to benefit from the long- term relationships it has with international oil companies and producing nations. If the price of oil remains low, the company will face a challenging environment. Relative to competitors, its strong franchises and solid balance sheet and cash flow should allow the company to endure an extended downturn. Weighing this risk with Schlumberger’s valuation and opportunities, we believe that the company (a 2.5% position in the Fund) remains an attractive investment opportunity.



From Dodge & Cox’s Stock Fund Q4 2014 Shareholder Letter.



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Bill Frels Comments on Schlumberger - Jul 31, 2014

The world’s leading supplier of energy industry technology solutions, Schlumberger (SLB) was a top contributor to performance for both the past quarter and the past six months through June 30, gaining 20.97% and 30.90%, respectively. America’s move to greater energy independence that began more than a decade ago has continued to benefit firms like Schlumberger whose businesses are concentrated in the area of oil and gas exploration. Many factors, however, like global economics and shifting political allegiances can affect both energy prices and exploration budgets. Since 2008, Schlumberger has endeavored to temper the impact of such cyclical influences through major investments in technology innovations, product reliability and better processes. As it gains market share, Schlumberger continues to hold leading market positions in proprietary software, patents, and major equipment.

From Bill Frels (Trades, Portfolio)’ Mairs & Power Growth Fund Second Quarter 2014 Commentary.

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David Rolfe Comments on Schlumberger - Apr 18, 2014

Schlumberger (SLB) was a top performer during the quarter, continuing its strong performance since the summer of 2012. Since late June 2012 (6/22) through mid-­‐ April 2014, the stock (a holding since late September 2011) is up approximately 60% -­‐ nearly double the S&P 500 Index's gain of 36%. Schlumberger continues to do what it does best – dominate their respective industry and generate industry-­‐ leading growth and cash flow generation. The Company is a leading global provider of oil services. At the risk of repeating an oil service industry cliché, "the easy oil has been found." The technological development being brought to bear to the extremes and complexities in the exploration and development of hydrocarbon energy is relentless. The Company's depth and breadth of their integrated products and services has been at the forefront of the unceasing progress of energy services for decades. Indeed, according to the Company, over the past decade, total E&P capital expenditures have increased by 400%, yet global oil production is up only a scant 15%. Furthermore, in just the last three years, the upstream E&P industry has spent on average $600 billion per year yielding only a net increase in global oil production coming from the shale deposits in North American. Due to the significant advancements in horizontal drilling and multistage fracking natural gas prices are generally one-­‐third of what they are in Europe or Asia. This differential has had 2 profound implications, for instance in the U.S. chemical industry. Chevron Phillips just this month broke ground on a $6 billion ethane cracker plant in Texas – the first petrochemical refinery built in the U.S. in twenty-­‐five years. Circa-­‐2014 finds the Company at the cutting edge in the continued search for unconventional oil and gas, plus in the environmentally challenging area in offshore and deepwater. The Company continues to enhance their capabilities, scale and integration with strategic acquisitions – including of late, Rock Deformation Research (geological software), Saxon (international land drilling), Gushor (petroleum geochemistry and fluid analysis) and GeoKnowledge (exploration risk and resource software). In an inherently cyclical industry, Schlumberger is a beacon of consistent profitability – posting net margins regularly between 12½% and 14½%. Free cash flow over the past twelve months ($5.8 billion) is 90% higher than the last cyclical peak in calendar 2007. Schlumberger is the only peer-­‐related company that has increased margins and generated double-­‐digit growth in operating earnings and earnings per share over the past two years.

From David Rolfe (Trades, Portfolio)'s Wedgewood Partners first quarter 2014 commentary.

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Dodge & Cox Comments on Schlumberger - Nov 07, 2013

Schlumberger (SLB) (the world's leading oil services company) has been a long-term holding in theDodge & Cox Equity Funds. Roughly two-thirds of Schlumberger's revenues come from outside the United States. The company is the dominant international provider in key markets including the Middle East and Russia. Historically, its international business has had higher margins and faster growth rates than its U.S. operations. Among its peers, Schlumberger has also consistently spent more on technology and research and development. Although a supply or demand shock to oil prices could reduce industry exploration and production budgets, we believe Schlumberger is well positioned to continue to benefit from the long-term relationships it has with international oil companies and producing countries.

From Dodge & Cox Funds' The Energy Sector commentary.
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Top Ranked Articles about Schlumberger NV

Dodge & Cox 2014 Equity Year in Review
Dodge & Cox’s Stock Fund Comments on Schlumberger NV
Schlumberger (SLB), the world’s leading oil services company, is the most technologically-focused company among the integrated oilfield service companies, with double the R&D budget of its closest peer. We believe that its consistent spending on technology (e.g., enhanced recovery techniques, seismic interpretation, directional drilling) has provided the company with a competitive advantage that is sustainable over time. The company’s innovation efforts have enabled the industry to extract oil and gas from deepwater and shale resources that were previously cost-prohibitive or physically challenging to reach. Schlumberger is the dominant international provider in key markets, including the Middle East and Russia. The majority of its revenues come from outside the United States, and its international business has higher margins than its U.S. operations. We believe that Schlumberger is well positioned to continue to benefit from the long- term relationships it has with international oil companies and producing nations. If the price of oil remains low, the company will face a challenging environment. Relative to competitors, its Read more...
Most-Bought Oil Stocks of Investment Gurus in Q3
Oil prices that started to dip in June have fallen to five-year lows as the world produces more than expected and uses less than expected, and U.S. shale operations add excess supply to the market. The drop continued on Monday, as U.S. oil stocks fell 3.3% on Monday, to close at $55.91 a barrel. Read more...
Mairs & Power Balanced Fund Second Quarter 2014 Commentary
While the pace of the economic recovery was somewhat better than expected during the quarter, we continued to keep our primary focus on the long-term fundamental attributes that make companies profitable. While attentive, we are not swayed by the macro-economic details underpinning global market events. By emphasizing the long-term view, we can make the subtle, opportunistic adjustments to company positions over time that keep portfolio turnover low and tax consequences in check. Our first mutual fund, the Mairs & Power Growth Fund, founded in 1958, provides a good illustration of this approach, which is employed by the Mairs & Power Balanced and Mairs & Power Small Cap Funds as well. Portfolio turnover for the Growth Fund, compared to its peers, the Morningstar U.S. Large Cap Blend category, was substantially lower for each of the past 10 years. As a result, the Fund’s annual realized taxable capital gains exceeded $1.00 in only two of the past 10 years.
As measured by the Standard and Poor’s Total Return (TR) Index, the stock market advanced 5.23% for the quarter ending June 30, 2014. The market’s strength occurred against a mixed backdrop characterized by a downbeat adjustment to the Gross Domestic Product (GDP) (a key barometer of economic health), a rekindling of the War in Iraq, and hints that higher inflation and rising yields might be just around the corner.
The quarter’s biggest economic news was the unexpectedly sharp downward revision of the first quarter’s GDP growth rate from -1% to -2.9%. Like a house guest who won’t leave, the effects of winter’s record cold snap endured and played a major role in depressing the benchmark growth measure, which opened up questions about the long-term hardiness of the U.S. recovery.
Meanwhile, as the Iraq War began appearing on the front pages again, the markets experienced some déjà vu: Would this be like 2003 all over again, when America first conquered Baghdad? The answer turned out to be a “no.” Shrugging off short-term inflationary fears from rising energy prices, the markets behaved with much more equanimity than they did 11 years ago when America’s energy independence goals were still far in the future. Instead, our energy selections were able to benefit from new access to cheaper domestic oil reserves as well as growing demand for improved technologies related to fracking.
Concerns about rising yields and the inflation rate were short-lived as well. Analysts found their expectations subverted when the benchmark 10-year Treasury rate declined from a high of more than 2.80% earlier in the quarter to 2.53% by the end of the period, and the Barclays Capital Government/Credit Bond Index gained 1.92%. Elsewhere, the Fed continued to dial back its monthly bond purchases by an additional $10 billion more per month. In short, the combined threats of the seemingly everlasting Polar Vortex, the Iraq War and inflationary fears could not dampen investor enthusiasm for stocks during the second quarter.
Future Outlook
Everybody likes a winner. And, if the stock market was any gauge during the second quarter, there was a lot to like. Stocks extended their winning streak for the sixth consecutive quarter, as measured by the Standard & Poor’s 500 Index – a phenomenon surpassed only six other times since 1928. After such historic gains, though, should cautious investors grow concerned about the second half of the year? We don’t think so. Successful investment approaches never depend on the positive or negative market performance of any single quarter. At Mairs and Power, we base our portfolio decisions on the facts about companies, not the markets. In particular, we endeavor to identify and invest in those companies that have shown their ability to achieve consistent, above-average growth from a position of demonstrable and durable competitive advantage.
Looking toward year-end, we will continue to closely evaluate corporate earnings and revenue against the multiples we view to be still slightly above historical levels. The price/earnings (P/E) multiple of the S&P 500, a key gauge of corporate earnings health, stood just above its long term average of around 15.5 at quarter-end, almost exactly where it ended the first quarter. This is further proof to us that stock prices continue to be influenced more by actual, organic company earnings and revenue growth than by the Federal Reserve’s waning stimulus program.
While we believe economic conditions appear sufficiently strong to support this current, positive earnings trend, a market correction in the near term would not surprise us. The advantages of investing in well-diversified portfolios, rebalanced regularly, provide one of the better, more reliable routes for meeting long-term goals regardless of the quarter. By focusing our attention on companies and how they perform, we remain confident in our ability to identify, over the course of a full market cycle, those profitable, well-managed firms likely to outperform their competitors regardless of marketplace events.
Balanced Fund Performance
For the second quarter and six months ending June 30, 2014, The Mairs & Power Balanced Fund gained 3.82% and 5.92% respectively; in line with its benchmark composite index (60% S&P 500 Stock Index and 40% Barclays Capital Government/Credit Bond Index), which gained 1.92% and 3.94%, for the periods.
The pace of the economic recovery continued steadily through the first half of the year. It seems a little surprising that it was only 12 months ago last May when the market went into full flight to safety mode after the Fed announced it would scale back the stimulus policy of quantitative easing (QE) sometime in the fall of 2013. All in all, the market stayed in a cool, calm and collected mood during the first half of the year and took war, stimulus tapering, hints of inflation and rising yields in stride.

In general, our selections in energy and higher dividend stocks benefited the portfolio. America’s move to greater energy independence which began more than a decade ago has continued to benefit firms like Schlumberger (SLB) whose businesses are concentrated in oil and gas exploration. Accordingly, Schlumberger proved to be a top contributor to Fund performance for both the past quarter and the past six months through June 30, and gained 20.97% and 30.90%, respectively. Since 2008, Schlumberger has made major investments in technology innovations, product reliability and better processes. As it gains market share, the firm continues to hold leading market positions in proprietary software, patents, and major equipment.
Another strong contributor to performance in the first half of the year was global supply chain consultant C.H. Robinson Worldwide, Inc. (CHRW), which gained 21.76% and 9.34% respectively for the second quarter and first six months. The firm’s efforts to better service high-end customers resulted in a favorable report in the first quarter and helped reverse a downbeat, two-year performance trend. At its attractive levels of value, we continued to add to our position in C.H. Robinson during the first half of the year.
Healthcare company Medtronic, Inc. (MDT) also contributed to performance, gaining 3.61% and 11.10% for the second quarter and first six months, respectively. Pending a shareholder vote either later this year or in 2015, however, Medtronic is expected to merge with medical device supplier Covidien Plc and change its legal domicile to Ireland. Once completed, the merger will create a taxable event for Fund shareholders who will realize a long-term capital gain estimated at $5.5 million or $0.75 a share. As always, Mairs and Power is committed to a policy of low portfolio turnover, and low exposure to taxable gains; we view this tax event as an anomaly.
Performance detractors included Pentair (PNR), IBM (IBM) and Target (TGT). However, we did not trim any of our positions as we continue to view these selections favorably over the long term.
On the income side, we saw our companies increase their dividends at a rate that outpaced the dividend for our benchmark through the first half of the year. Additionally, interest rates generally declined, especially bonds with durations of 10 years and beyond on the Treasury curve. Overall, bond prices improved during the first half of the year. Accordingly, we maintained a concentration in investment-grade bonds with longer durations as we saw a tightening in yield spreads in the U.S. Government sector. We still think more may be gained on the fixed income side as the Federal Reserve continues to taper back on quantitative easing. For investors who prefer a single vehicle that can straddle the equity and fixed income markets to take advantage of growth opportunities as well as favorable movements in the debt markets, we believe the Mairs & Power Balanced Fund continues to offer an effective way to do so.

Ronald L. Kaliebe

William B. Frels

Lead Manager

Co-Manager
Continue reading here. Read more...
Bill Frels Comments on Schlumberger
The world’s leading supplier of energy industry technology solutions, Schlumberger (SLB) was a top contributor to performance for both the past quarter and the past six months through June 30, gaining 20.97% and 30.90%, respectively. America’s move to greater energy independence that began more than a decade ago has continued to benefit firms like Schlumberger whose businesses are concentrated in the area of oil and gas exploration. Many factors, however, like global economics and shifting political allegiances can affect both energy prices and exploration budgets. Since 2008, Schlumberger has endeavored to temper the impact of such cyclical influences through major investments in technology innovations, product reliability and better processes. As it gains market share, Schlumberger continues to hold leading market positions in proprietary software, patents, and major equipment. Read more...
Bill Frels' Mairs & Power Growth Fund Second Quarter 2014 Commentary
While the pace of the economic recovery was somewhat better than expected during the quarter, we continued to keep our primary focus on the long-term fundamental attributes that make companies profitable. While attentive, we are not swayed by the macro-economic details underpinning global market events. By emphasizing the long-term view, we can make the subtle, opportunistic adjustments to company positions over time that keep portfolio turnover low and tax consequences in check. Our first mutual fund, the Mairs & Power Growth Fund, founded in 1958, provides a good illustration of this approach, which is employed by the Mairs & Power Balanced and Mairs & Power Small Cap Funds as well. Portfolio turnover for the Growth Fund, compared to its peers, the Morningstar U.S. Large Cap Blend category, was substantially lower for each of the past 10 years. As a result, the Fund’s annual realized taxable capital gains exceeded $1.00 in only two of the past 10 years. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 25.24
SLB's P/E(ttm) is ranked lower than
71% of the 169 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 13.30 vs. SLB: 25.24 )
Ranked among companies with meaningful P/E(ttm) only.
SLB' s 10-Year P/E(ttm) Range
Min: 8.29  Med: 21.84 Max: 38.62
Current: 25.24
8.29
38.62
Forward P/E 21.55
SLB's Forward P/E is ranked lower than
68% of the 133 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 14.93 vs. SLB: 21.55 )
Ranked among companies with meaningful Forward P/E only.
N/A
PE(NRI) 24.70
SLB's PE(NRI) is ranked lower than
71% of the 171 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 13.00 vs. SLB: 24.70 )
Ranked among companies with meaningful PE(NRI) only.
SLB' s 10-Year PE(NRI) Range
Min: 8.34  Med: 21.97 Max: 49.43
Current: 24.7
8.34
49.43
P/B 2.82
SLB's P/B is ranked lower than
85% of the 267 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.93 vs. SLB: 2.82 )
Ranked among companies with meaningful P/B only.
SLB' s 10-Year P/B Range
Min: 2.49  Med: 3.64 Max: 10.37
Current: 2.82
2.49
10.37
P/S 2.48
SLB's P/S is ranked lower than
81% of the 267 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.74 vs. SLB: 2.48 )
Ranked among companies with meaningful P/S only.
SLB' s 10-Year P/S Range
Min: 1.64  Med: 3.20 Max: 6.09
Current: 2.48
1.64
6.09
PFCF 14.28
SLB's PFCF is ranked lower than
57% of the 115 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 12.10 vs. SLB: 14.28 )
Ranked among companies with meaningful PFCF only.
SLB' s 10-Year PFCF Range
Min: 13.74  Med: 38.41 Max: 119.6
Current: 14.28
13.74
119.6
POCF 9.92
SLB's POCF is ranked lower than
72% of the 202 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 5.73 vs. SLB: 9.92 )
Ranked among companies with meaningful POCF only.
SLB' s 10-Year POCF Range
Min: 6.53  Med: 15.82 Max: 27.38
Current: 9.92
6.53
27.38
EV-to-EBIT 18.14
SLB's EV-to-EBIT is ranked lower than
69% of the 195 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 10.88 vs. SLB: 18.14 )
Ranked among companies with meaningful EV-to-EBIT only.
SLB' s 10-Year EV-to-EBIT Range
Min: 6.5  Med: 16.80 Max: 33.1
Current: 18.14
6.5
33.1
PEG 2.08
SLB's PEG is ranked lower than
67% of the 72 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.02 vs. SLB: 2.08 )
Ranked among companies with meaningful PEG only.
SLB' s 10-Year PEG Range
Min: 0.21  Med: 1.58 Max: 149.79
Current: 2.08
0.21
149.79
Shiller P/E 21.02
SLB's Shiller P/E is ranked lower than
71% of the 124 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 13.58 vs. SLB: 21.02 )
Ranked among companies with meaningful Shiller P/E only.
SLB' s 10-Year Shiller P/E Range
Min: 13.81  Med: 23.69 Max: 171.77
Current: 21.02
13.81
171.77
Current Ratio 1.66
SLB's Current Ratio is ranked lower than
56% of the 269 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.82 vs. SLB: 1.66 )
Ranked among companies with meaningful Current Ratio only.
SLB' s 10-Year Current Ratio Range
Min: 1.11  Med: 1.63 Max: 2.62
Current: 1.66
1.11
2.62
Quick Ratio 1.33
SLB's Quick Ratio is ranked lower than
59% of the 269 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.51 vs. SLB: 1.33 )
Ranked among companies with meaningful Quick Ratio only.
SLB' s 10-Year Quick Ratio Range
Min: 0.95  Med: 1.36 Max: 2.22
Current: 1.33
0.95
2.22
Days Inventory 49.24
SLB's Days Inventory is ranked lower than
56% of the 222 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 37.74 vs. SLB: 49.24 )
Ranked among companies with meaningful Days Inventory only.
SLB' s 10-Year Days Inventory Range
Min: 31.18  Med: 48.13 Max: 82.89
Current: 49.24
31.18
82.89
Days Sales Outstanding 77.98
SLB's Days Sales Outstanding is ranked lower than
61% of the 238 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 69.68 vs. SLB: 77.98 )
Ranked among companies with meaningful Days Sales Outstanding only.
SLB' s 10-Year Days Sales Outstanding Range
Min: 80.51  Med: 93.25 Max: 131.88
Current: 77.98
80.51
131.88

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 2.10
SLB's Dividend Yield is ranked lower than
71% of the 325 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 3.50 vs. SLB: 2.10 )
Ranked among companies with meaningful Dividend Yield only.
SLB' s 10-Year Dividend Yield Range
Min: 0.59  Med: 1.29 Max: 2.29
Current: 2.1
0.59
2.29
Dividend Payout 0.53
SLB's Dividend Payout is ranked higher than
99% of the 163 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.52 vs. SLB: 0.53 )
Ranked among companies with meaningful Dividend Payout only.
SLB' s 10-Year Dividend Payout Range
Min: 0.14  Med: 0.32 Max: 9.4
Current: 0.53
0.14
9.4
Dividend growth (3y) 17.00
SLB's Dividend growth (3y) is ranked higher than
67% of the 92 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 7.30 vs. SLB: 17.00 )
Ranked among companies with meaningful Dividend growth (3y) only.
SLB' s 10-Year Dividend growth (3y) Range
Min: -7.2  Med: 6.00 Max: 26
Current: 17
-7.2
26
Yield on cost (5-Year) 4.01
SLB's Yield on cost (5-Year) is ranked lower than
56% of the 325 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 5.17 vs. SLB: 4.01 )
Ranked among companies with meaningful Yield on cost (5-Year) only.
SLB' s 10-Year Yield on cost (5-Year) Range
Min: 1.13  Med: 2.46 Max: 4.37
Current: 4.01
1.13
4.37
Share Buyback Rate 1.30
SLB's Share Buyback Rate is ranked higher than
91% of the 206 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: -2.20 vs. SLB: 1.30 )
Ranked among companies with meaningful Share Buyback Rate only.
SLB' s 10-Year Share Buyback Rate Range
Min: 18.9  Med: -1.10 Max: -28.3
Current: 1.3

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 5.92
SLB's Price/Tangible Book is ranked lower than
90% of the 244 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.09 vs. SLB: 5.92 )
Ranked among companies with meaningful Price/Tangible Book only.
SLB' s 10-Year Price/Tangible Book Range
Min: 3.31  Med: 6.75 Max: 39.67
Current: 5.92
3.31
39.67
Price/Projected FCF 1.26
SLB's Price/Projected FCF is ranked lower than
60% of the 116 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.90 vs. SLB: 1.26 )
Ranked among companies with meaningful Price/Projected FCF only.
SLB' s 10-Year Price/Projected FCF Range
Min: 1.17  Med: 2.73 Max: 5.98
Current: 1.26
1.17
5.98
Price/DCF (Earnings Based) 1.48
SLB's Price/DCF (Earnings Based) is ranked lower than
65% of the 23 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.98 vs. SLB: 1.48 )
Ranked among companies with meaningful Price/DCF (Earnings Based) only.
N/A
Price/Median PS Value 0.76
SLB's Price/Median PS Value is ranked lower than
65% of the 251 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.58 vs. SLB: 0.76 )
Ranked among companies with meaningful Price/Median PS Value only.
SLB' s 10-Year Price/Median PS Value Range
Min: 0.43  Med: 0.95 Max: 1.82
Current: 0.76
0.43
1.82
Price/Peter Lynch Fair Value 2.68
SLB's Price/Peter Lynch Fair Value is ranked lower than
89% of the 55 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.91 vs. SLB: 2.68 )
Ranked among companies with meaningful Price/Peter Lynch Fair Value only.
SLB' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.38  Med: 1.79 Max: 18.34
Current: 2.68
0.38
18.34
Price/Graham Number 2.52
SLB's Price/Graham Number is ranked lower than
86% of the 151 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.93 vs. SLB: 2.52 )
Ranked among companies with meaningful Price/Graham Number only.
SLB' s 10-Year Price/Graham Number Range
Min: 1.33  Med: 3.02 Max: 9.12
Current: 2.52
1.33
9.12
Earnings Yield (Greenblatt) (%) 5.57
SLB's Earnings Yield (Greenblatt) (%) is ranked higher than
51% of the 273 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 5.60 vs. SLB: 5.57 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) (%) only.
SLB' s 10-Year Earnings Yield (Greenblatt) (%) Range
Min: 3  Med: 5.90 Max: 15.3
Current: 5.57
3
15.3
Forward Rate of Return (Yacktman) (%) 13.12
SLB's Forward Rate of Return (Yacktman) (%) is ranked higher than
58% of the 136 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 6.38 vs. SLB: 13.12 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) (%) only.
SLB' s 10-Year Forward Rate of Return (Yacktman) (%) Range
Min: -1.7  Med: 10.70 Max: 45.7
Current: 13.12
-1.7
45.7

Business Description

Industry: Oil & Gas - Services » Oil & Gas Equipment & Services
Compare:SPN, GLF, NOV, HAL, SAPMY » details
Traded in other countries:SLB.France, SLB.Switzerland, SCL.Germany, SLB.Argentina, SLB N.Mexico, SLBG34.Brazil, SCL.UK,
Schlumberger NV was founded in 1926. The Company is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. Its business segments are Reservoir Characterization Group, Drilling Group and Production Group. The Reservoir Characterization Group consists of the principal Technologies involved in finding and defining hydrocarbon resources. These include WesternGeco, Wireline, Testing Services, Schlumberger Information Solutions (SIS) and PetroTechnical Services. The Drilling Group consists of the principal Technologies involved in the drilling and positioning of oil and gas wells and comprises Bits & Advanced Technologies, M-I SWACO, Geoservices, Drilling & Measurements, Drilling Tools & Remedial, Saxon Rig Services and Integrated Project Management well construction projects. The Production Group consists of the principal Technologies involved in the lifetime production of oil and gas reservoirs and includes Well Services, Completions, Artificial Lift, Well Intervention, Water Services and Schlumberger Production Management field production projects. It operates through four geographic areas, North America, Latin America, Europe/CIS/Africa and Middle East & Asia. The Company is subject to increasingly stringent laws and regulations relating to importation and use of hazardous materials, radioactive materials, chemicals and explosives and to environmental protection, including laws and regulations governing air emissions, hydraulic fracturing, water discharges and waste management.
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