Schlumberger ( SLB) shares were recently up $1.54, or 2.3%, to $67.34 after the oilfield services giant reported an 86% jump in year-over-year profits, raised its dividend by 12% and upped its 2005 capital expenditures budget. Before the open Tuesday, the company reported fourth-quarter earnings of $329.8 million, or 55 cents a share, up from $177 million, or 30 cents per share, a year ago. Earnings from continuing operations rose to $351.4 million, or 59 cents a share, from $183.5 million, or 31 cents a share, last year. Revenue rose to $3.07 billion from $2.62 billion last year. Analysts were expecting the company to post earnings of 56 cents per share on revenue of $3.02 billion, according to Thomson First Call. The company also said its board approved an increase in its quarterly dividend to 21 cents a share, payable April 8 to shareholders of record March 2. Separately, Schlumberger said it plans to spend $1.17 billion on capital expenditures in 2005, up from $1.06 billion in 2004. On a less upbeat note, the company said it has been subpoenaed by the U.S. Attorney's office in Texas seeking documents relating to possible fraud by Schlumberger and/or its WesternGeco survey unit in obtaining visas for non-U.S. citizens working in the Gulf of Mexico. "We are in the process of responding to the investigation, including providing information sought by the subpoenas," Schlumberger said in a release. "The company is unable to predict the timing or outcome of this matter."