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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 : 9/10

vs
industry
vs
history
Cash to Debt 0.52
SLB's Cash to Debt is ranked higher than
80% of the 455 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.32 vs. SLB: 0.52 )
SLB' s 10-Year Cash to Debt Range
Min: 0.05   Max: 1.72
Current: 0.52

0.05
1.72
Equity to Asset 0.59
SLB's Equity to Asset is ranked higher than
81% of the 464 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.49 vs. SLB: 0.59 )
SLB' s 10-Year Equity to Asset Range
Min: 0.27   Max: 0.62
Current: 0.59

0.27
0.62
Interest Coverage 23.23
SLB's Interest Coverage is ranked higher than
81% of the 290 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 11.41 vs. SLB: 23.23 )
SLB' s 10-Year Interest Coverage Range
Min: 1.59   Max: 28.71
Current: 23.23

1.59
28.71
F-Score: 5
Z-Score: 4.93
M-Score: -2.70
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 : 7/10

vs
industry
vs
history
Operating margin (%) 18.74
SLB's Operating margin (%) is ranked higher than
89% of the 466 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9.87 vs. SLB: 18.74 )
SLB' s 10-Year Operating margin (%) Range
Min: -13.68   Max: 27.79
Current: 18.74

-13.68
27.79
Net-margin (%) 14.13
SLB's Net-margin (%) is ranked higher than
89% of the 466 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 6.15 vs. SLB: 14.13 )
SLB' s 10-Year Net-margin (%) Range
Min: -17.04   Max: 22.24
Current: 14.13

-17.04
22.24
ROE (%) 17.14
SLB's ROE (%) is ranked higher than
91% of the 469 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 8.48 vs. SLB: 17.14 )
SLB' s 10-Year ROE (%) Range
Min: -33.18   Max: 41.19
Current: 17.14

-33.18
41.19
ROA (%) 10.14
SLB's ROA (%) is ranked higher than
92% of the 471 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 4.56 vs. SLB: 10.14 )
SLB' s 10-Year ROA (%) Range
Min: -11.11   Max: 20.43
Current: 10.14

-11.11
20.43
ROC (Joel Greenblatt) (%) 39.01
SLB's ROC (Joel Greenblatt) (%) is ranked higher than
95% of the 469 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 11.07 vs. SLB: 39.01 )
SLB' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -35.44   Max: 87.67
Current: 39.01

-35.44
87.67
Revenue Growth (%) 15.00
SLB's Revenue Growth (%) is ranked higher than
85% of the 403 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 11.30 vs. SLB: 15.00 )
SLB' s 10-Year Revenue Growth (%) Range
Min: -27   Max: 30.5
Current: 15

-27
30.5
EBITDA Growth (%) 14.10
SLB's EBITDA Growth (%) is ranked higher than
83% of the 356 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9.40 vs. SLB: 14.10 )
SLB' s 10-Year EBITDA Growth (%) Range
Min: -26.1   Max: 44.5
Current: 14.1

-26.1
44.5
EPS Growth (%) 14.70
SLB's EPS Growth (%) is ranked higher than
84% of the 305 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 6.20 vs. SLB: 14.70 )
SLB' s 10-Year EPS Growth (%) Range
Min: -30.1   Max: 106.9
Current: 14.7

-30.1
106.9
» SLB's 10-Y Financials

Financials


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

» Details

Guru Trades

Q4 2013

SLB Guru Trades in Q4 2013

David Tepper 336,900 sh (New)
Ray Dalio 19,187 sh (+166.97%)
Paul Tudor Jones 7,217 sh (+95.05%)
Joel Greenblatt 38,892 sh (+67.9%)
John Rogers 15,239 sh (+38.78%)
Jean-Marie Eveillard 2,600 sh (+18.72%)
Louis Moore Bacon 23,000 sh (+15%)
Tom Gayner 174,000 sh (+12.99%)
David Rolfe 1,943,361 sh (+5.42%)
Bill Frels 2,066,723 sh (+3.32%)
Ken Fisher 4,073,540 sh (+0.81%)
PRIMECAP Management 6,439,708 sh (+0.06%)
John Keeley 2,550 sh (unchged)
Tom Russo 3,350 sh (unchged)
Brian Rogers 3,276,400 sh (unchged)
Stanley Druckenmiller 993,000 sh (unchged)
Mario Gabelli 21,574 sh (unchged)
Ruane Cunniff 2,849 sh (unchged)
Chuck Royce 288 sh (unchged)
RS Investment Management Sold Out
Ken Heebner Sold Out
John Burbank Sold Out
Dodge & Cox 39,611,494 sh (-1.22%)
Chris Davis 3,026,384 sh (-1.33%)
Frank Sands 14,994,184 sh (-1.46%)
Murray Stahl 9,057 sh (-3.46%)
Robert Olstein 38,000 sh (-20.83%)
Manning & Napier Advisors, Inc 9,187,561 sh (-28.31%)
Pioneer Investments 1,730,029 sh (-28.55%)
George Soros 301,713 sh (-60.08%)
Steven Cohen 3,589 sh (-99.53%)
» More
Q1 2014

SLB Guru Trades in Q1 2014

Ken Heebner 255,000 sh (New)
Jim Simons 1,085,724 sh (New)
John Burbank 80,438 sh (New)
RS Investment Management 41,400 sh (New)
David Swensen 3,000 sh (New)
Steven Cohen 873,037 sh (+24225.4%)
Robert Olstein 72,000 sh (+89.47%)
David Tepper 598,400 sh (+77.62%)
Joel Greenblatt 68,079 sh (+75.05%)
Tom Gayner 260,000 sh (+49.43%)
David Rolfe 2,091,930 sh (+7.64%)
Paul Tudor Jones 7,717 sh (+6.93%)
Bill Frels 2,137,164 sh (+3.41%)
Frank Sands 15,347,348 sh (+2.36%)
Mario Gabelli 21,896 sh (+1.49%)
John Keeley 2,550 sh (unchged)
Brian Rogers 3,276,400 sh (unchged)
Chuck Royce 288 sh (unchged)
Jean-Marie Eveillard 2,600 sh (unchged)
John Rogers Sold Out
Stanley Druckenmiller Sold Out
George Soros Sold Out
Dodge & Cox 39,244,199 sh (-0.93%)
Ken Fisher 3,939,601 sh (-3.29%)
Manning & Napier Advisors, Inc 8,882,428 sh (-3.32%)
Murray Stahl 8,606 sh (-4.98%)
Pioneer Investments 1,635,474 sh (-5.47%)
Tom Russo 3,100 sh (-7.46%)
PRIMECAP Management 5,842,504 sh (-9.27%)
Chris Davis 2,660,799 sh (-12.08%)
Ruane Cunniff 2,429 sh (-14.74%)
Signature Select Canadian Fund 160,300 sh (-24.03%)
Louis Moore Bacon 10,000 sh (-56.52%)
Ray Dalio 3,087 sh (-83.91%)
» More
Q2 2014

SLB Guru Trades in Q2 2014

John Hussman 100,000 sh (New)
Ray Dalio 26,187 sh (+748.3%)
John Burbank 571,528 sh (+610.52%)
RS Investment Management 55,800 sh (+34.78%)
Tom Gayner 310,000 sh (+19.23%)
Ruane Cunniff 2,706 sh (+11.4%)
Pioneer Investments 1,748,076 sh (+6.88%)
Ken Fisher 4,168,472 sh (+5.81%)
David Rolfe 2,159,911 sh (+3.25%)
Ken Heebner 260,000 sh (+1.96%)
Murray Stahl 8,769 sh (+1.89%)
PRIMECAP Management 5,880,203 sh (+0.65%)
Chuck Royce 288 sh (unchged)
Steven Cohen 126,900 sh (unchged)
David Tepper 598,400 sh (unchged)
John Keeley 2,550 sh (unchged)
Steven Cohen 650,000 sh (unchged)
Caxton Associates 200,000 sh (unchged)
Louis Moore Bacon 200,000 sh (unchged)
Robert Olstein Sold Out
Jim Simons Sold Out
Louis Moore Bacon Sold Out
Paul Tudor Jones Sold Out
David Swensen Sold Out
Bill Frels 2,130,854 sh (-0.3%)
Mario Gabelli 21,496 sh (-1.83%)
Brian Rogers 3,026,400 sh (-7.63%)
Manning & Napier Advisors, Inc 8,204,061 sh (-7.64%)
Tom Russo 2,825 sh (-8.87%)
Dodge & Cox 35,362,918 sh (-9.89%)
Frank Sands 13,587,183 sh (-11.47%)
Joel Greenblatt 45,455 sh (-33.23%)
Chris Davis 1,034,694 sh (-61.11%)
Jean-Marie Eveillard 900 sh (-65.38%)
» More
Q3 2014

SLB Guru Trades in Q3 2014

Brian Rogers 2,326,400 sh (-23.13%)
» More
» Details

Insider Trades

Latest Guru Trades with SLB

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Brian Rogers 2014-09-30 Reduce -23.13%0.3%$101.01 - $117.73 $ 97.62-10%2326400
Robert Olstein 2014-06-30 Sold Out 0.96%$97.1 - $117.8 $ 97.62-5%0
John Burbank 2014-06-30 Add 610.52%0.95%$97.1 - $117.8 $ 97.62-5%571528
John Hussman 2014-06-30 New Buy0.91%$97.1 - $117.8 $ 97.62-5%100000
Frank Sands 2014-06-30 Reduce -11.47%0.45%$97.1 - $117.8 $ 97.62-5%13587183
Chris Davis 2014-06-30 Reduce -61.11%0.43%$97.1 - $117.8 $ 97.62-5%1034694
Dodge & Cox 2014-06-30 Reduce -9.89%0.39%$97.1 - $117.8 $ 97.62-5%35362918
David Swensen 2014-06-30 Sold Out 0.22%$97.1 - $117.8 $ 97.62-5%0
Tom Gayner 2014-06-30 Add 19.23%0.16%$97.1 - $117.8 $ 97.62-5%310000
Joel Greenblatt 2014-06-30 Reduce -33.23%0.03%$97.1 - $117.8 $ 97.62-5%45455
Ray Dalio 2014-06-30 Add 748.3%0.02%$97.1 - $117.8 $ 97.62-5%26187
Jean-Marie Eveillard 2014-06-30 Reduce -65.38%$97.1 - $117.8 $ 97.62-5%900
Ken Heebner 2014-03-31 New Buy0.67%$86.16 - $97.57 $ 97.628%255000
Robert Olstein 2014-03-31 Add 89.47%0.45%$86.16 - $97.57 $ 97.628%72000
David Tepper 2014-03-31 Add 77.62%0.28%$86.16 - $97.57 $ 97.628%598400
Tom Gayner 2014-03-31 Add 49.43%0.26%$86.16 - $97.57 $ 97.628%260000
George Soros 2014-03-31 Sold Out 0.23%$86.16 - $97.57 $ 97.628%0
John Burbank 2014-03-31 New Buy0.22%$86.16 - $97.57 $ 97.628%80438
David Swensen 2014-03-31 New Buy0.22%$86.16 - $97.57 $ 97.628%3000
Joel Greenblatt 2014-03-31 Add 75.05%0.04%$86.16 - $97.57 $ 97.628%68079
John Rogers 2014-03-31 Sold Out 0.02%$86.16 - $97.57 $ 97.628%0
Ray Dalio 2014-03-31 Reduce -83.91%0.01%$86.16 - $97.57 $ 97.628%3087
Ken Heebner 2013-12-31 Sold Out 0.79%$85.54 - $94.46 $ 97.628%0
John Burbank 2013-12-31 Sold Out 0.55%$85.54 - $94.46 $ 97.628%0
George Soros 2013-12-31 Reduce -60.08%0.44%$85.54 - $94.46 $ 97.628%301713
David Tepper 2013-12-31 New Buy0.38%$85.54 - $94.46 $ 97.628%336900
Robert Olstein 2013-12-31 Reduce -20.83%0.14%$85.54 - $94.46 $ 97.628%38000
Joel Greenblatt 2013-12-31 Add 67.9%0.03%$85.54 - $94.46 $ 97.628%38892
Ray Dalio 2013-12-31 Add 166.97%0.01%$85.54 - $94.46 $ 97.628%19187
John Rogers 2013-12-31 Add 38.78%$85.54 - $94.46 $ 97.628%15239
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Guru Investment Theses on Schlumberger NV

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

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...
Schlumberger Ltd (SLB): Solid Company and Growing
Current Price: $100.22 Read more...
Manning & Napier Report First Quarter Top Stocks
Manning & Napier is an investment fund that provides investment solutions through various means such as managed accounts, mutual funds and collective investment trust funds. The fund was founded in 1970 and as of June 30, 2013, the fund managed $46.3 billion in client assets. Read more...
David Rolfe Comments on Schlumberger
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, Read more...
Top Third Quarter Guru-Held Energy Stocks
Using the GuruFocus Aggregated Portfolio Screener you can filter results to see what companies maintain the highest amount of guru ownership. By using this screener, we filtered down to see which energy companies were held by the highest number of gurus. The following five companies come from a energy sector of the market and are held by the largest number of gurus. Read more...
Dodge & Cox Comments on Schlumberger
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. Read more...

Ratios

vs
industry
vs
history
P/E(ttm) 18.80
SLB's P/E(ttm) is ranked higher than
80% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 18.80 vs. SLB: 18.80 )
SLB' s 10-Year P/E(ttm) Range
Min: 8.29   Max: 97.42
Current: 18.8

8.29
97.42
P/B 3.10
SLB's P/B is ranked higher than
66% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.39 vs. SLB: 3.10 )
SLB' s 10-Year P/B Range
Min: 2.49   Max: 10.37
Current: 3.1

2.49
10.37
P/S 2.70
SLB's P/S is ranked higher than
67% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.10 vs. SLB: 2.70 )
SLB' s 10-Year P/S Range
Min: 1.64   Max: 6.09
Current: 2.7

1.64
6.09
PFCF 19.60
SLB's PFCF is ranked higher than
88% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9999.00 vs. SLB: 19.60 )
SLB' s 10-Year PFCF Range
Min: 15.97   Max: 119.6
Current: 19.6

15.97
119.6
EV-to-EBIT 14.53
SLB's EV-to-EBIT is ranked higher than
80% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 14.60 vs. SLB: 14.53 )
SLB' s 10-Year EV-to-EBIT Range
Min: -24.7   Max: 40.1
Current: 14.53

-24.7
40.1
PEG 1.24
SLB's PEG is ranked higher than
91% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9999.00 vs. SLB: 1.24 )
SLB' s 10-Year PEG Range
Min: 0.23   Max: 47.72
Current: 1.24

0.23
47.72
Shiller P/E 23.40
SLB's Shiller P/E is ranked higher than
86% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 43.10 vs. SLB: 23.40 )
SLB' s 10-Year Shiller P/E Range
Min: 13.86   Max: 190.91
Current: 23.4

13.86
190.91
Current Ratio 2.06
SLB's Current Ratio is ranked higher than
80% of the 470 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.75 vs. SLB: 2.06 )
SLB' s 10-Year Current Ratio Range
Min: 1.11   Max: 2.62
Current: 2.06

1.11
2.62
Quick Ratio 1.68
SLB's Quick Ratio is ranked higher than
82% of the 470 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.47 vs. SLB: 1.68 )
SLB' s 10-Year Quick Ratio Range
Min: 0.95   Max: 2.22
Current: 1.68

0.95
2.22

Dividend & Buy Back

vs
industry
vs
history
Dividend Yield 1.60
SLB's Dividend Yield is ranked lower than
72% of the 315 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 2.96 vs. SLB: 1.60 )
SLB' s 10-Year Dividend Yield Range
Min: 0.59   Max: 2.29
Current: 1.6

0.59
2.29
Dividend Payout 0.28
SLB's Dividend Payout is ranked higher than
94% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 4.49 vs. SLB: 0.28 )
SLB' s 10-Year Dividend Payout Range
Min: 0.14   Max: 9.4
Current: 0.28

0.14
9.4
Dividend growth (3y) 14.20
SLB's Dividend growth (3y) is ranked higher than
81% of the 183 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 14.50 vs. SLB: 14.20 )
SLB' s 10-Year Dividend growth (3y) Range
Min: -7.2   Max: 26
Current: 14.2

-7.2
26
Yield on cost (5-Year) 2.72
SLB's Yield on cost (5-Year) is ranked lower than
63% of the 323 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 4.10 vs. SLB: 2.72 )
SLB' s 10-Year Yield on cost (5-Year) Range
Min: 1   Max: 3.89
Current: 2.72

1
3.89
Share Buyback Rate -1.80
SLB's Share Buyback Rate is ranked higher than
80% of the 389 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: -2.30 vs. SLB: -1.80 )
SLB' s 10-Year Share Buyback Rate Range
Min: 18.9   Max: -28.3
Current: -1.8

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 6.10
SLB's Price/Tangible Book is ranked higher than
64% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.74 vs. SLB: 6.10 )
SLB' s 10-Year Price/Tangible Book Range
Min: 3.32   Max: 39.67
Current: 6.1

3.32
39.67
Price/DCF (Projected) 1.60
SLB's Price/DCF (Projected) is ranked higher than
87% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 11.84 vs. SLB: 1.60 )
SLB' s 10-Year Price/DCF (Projected) Range
Min: 1.17   Max: 6.05
Current: 1.6

1.17
6.05
Price/Median PS Value 0.90
SLB's Price/Median PS Value is ranked higher than
78% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 0.83 vs. SLB: 0.90 )
SLB' s 10-Year Price/Median PS Value Range
Min: 0.47   Max: 1.85
Current: 0.9

0.47
1.85
Price/Peter Lynch Fair Value 1.20
SLB's Price/Peter Lynch Fair Value is ranked higher than
93% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 9999.00 vs. SLB: 1.20 )
SLB' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.38   Max: 18.34
Current: 1.2

0.38
18.34
Price/Graham Number 2.20
SLB's Price/Graham Number is ranked higher than
76% of the 494 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 1.71 vs. SLB: 2.20 )
SLB' s 10-Year Price/Graham Number Range
Min: 1.33   Max: 8.68
Current: 2.2

1.33
8.68
Earnings Yield (Greenblatt) 6.90
SLB's Earnings Yield (Greenblatt) is ranked higher than
79% of the 470 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 7.70 vs. SLB: 6.90 )
SLB' s 10-Year Earnings Yield (Greenblatt) Range
Min: 2.5   Max: 15.3
Current: 6.9

2.5
15.3
Forward Rate of Return (Yacktman) 16.99
SLB's Forward Rate of Return (Yacktman) is ranked higher than
90% of the 394 Companies
in the Global Oil & Gas Equipment & Services industry.

( Industry Median: 2.17 vs. SLB: 16.99 )
SLB' s 10-Year Forward Rate of Return (Yacktman) Range
Min: 0.7   Max: 41
Current: 16.99

0.7
41

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.UK, SCL.Germany, SLBG34.Brazil, SLB N.Mexico
Schlumberger NV is a supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry worldwide. The Company provides the industry's range of products and services from exploration through production. The Company operates in each of the major oilfield service markets, managing its business through three Groups: Reservoir Characterization, Drilling and Production. Each Group consists of a number of technology-based service and product lines, or Technologies. These Technologies cover the entire life cycle of the reservoir and correspond to a number of markets. The business is also reported through four geographic Areas: North America, Latin America, Europe/CIS/Africa and Middle East & Asia. Within these Areas, a network of GeoMarket* regions provides logistical, technical and commercial coordination. The Groups and Technologies are collectively responsible for driving excellence in execution throughout their businesses, overseeing operational processes, resource allocation, personnel and delivering superior financial results. The GeoMarket structure offers customers a single point of contact at the local level for field operations and brings together geographically focused teams to meet local needs and deliver customized solutions. The Areas and GeoMarkets are responsible for providing the efficient and cost effective support possible to the operations.
» More Articles for SLB

Headlines

Articles On GuruFocus.com
Think Crude Thoughts Oct 27 2014 
Bill Frels' Mairs & Power Q3 Portfolio Commentary Oct 20 2014 
Dodge & Cox’ Stock Fund Third Quarter 2014 Commentary Oct 16 2014 
David Rolfe's Wedgewood Partners Q3 2014 Portfolio Commentary Oct 15 2014 
Schlumberger's Impressive Results Show That the Company Can Improve Sep 18 2014 
Dodge & Cox 2014 Equity Mid-Year Review Sep 12 2014 
GE’s Upcoming Focus Area – Oil and Gas Sep 11 2014 
Value Picks Aug 28 2014 
Schlumberger is the Largest Oil-Service Company in the World and Fits Any Portfolio Aug 21 2014 
Schlumberger: Value Creation Will Continue With Strong Growth Drivers Aug 18 2014 

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