Schlumberger (SLB) Stock Increases Ahead of Q2 Earnings

Schlumberger (SLB) stock is rising ahead of the company's fiscal 2016 second quarter earnings due after markets close on Thursday.
By Annie Palmer ,

NEW YORK (TheStreet) -- Shares of Schlumberger (SLB) - Get Report  are advancing by 1.07% to $80.66 in afternoon trading on Wednesday, as the company is expected to post its second quarter results after tomorrow's closing bell.

Analysts surveyed by Thomson Reuters project the Houston-based oilfield services company will report 21 cents per share on $7.13 billion in revenue for the second quarter.

Last year, Schlumberger reported earnings of 88 cents per share on $9 billion revenue for the second quarter.

Additionally, Societe Generale upgraded the stock ahead of its earnings to "buy" from "hold" and lowered its price target to $86 from $91, according to TheFly. The company has the greatest access to global and offshore markets and could benefit should there be an upturn in the market, the firm said.

Last month, Schlumberger subsidiary OneSubsea was awarded a $300 million engineering contract to help develop an offshore project in Australia. Schlumberger also recently acquired the Houston-based company Omron Oilfield and Marine Inc

(Schlumberger is held in Jim Cramer's charitable trust portfolio Action Alerts PLUS. See all of Cramer's holdings with a free trial)

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate SCHLUMBERGER LTD as a Hold with a ratings score of C. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and premium valuation.

You can view the full analysis from the report here: SLB

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