Given Halliburton's (HAL - Get Report) better-than-expected second quarter results announced today, Schlumberger (SLB - Get Report) may have performed better in the period than what most analysts anticipate, according to a report by RBC Capital Markets.

Analyst Kurt Hallead wrote in a report Wednesday that based on Halliburton's results, Schlumberger's Latin American and European/Central Asian numbers may come in better when it reports its earnings on Thursday, especially the latter on the operating income line.

RBC has an outperform rating on the stock with a price target of $95 per share. "We expect SLB to continue to outperform the broader service group given its superior market position and financial execution," he said.

Schlumberger was trading slightly higher on Wednesday at $80.57 and is up around 13% for the year, versus a 32% jump for Halliburton and a 5% drop for one-time Halliburton merger partner Baker Hughes (BHI) . The industry as a whole, as measured by VanEck Vectors Oil Services ETF (OIH - Get Report) , is up about 10%.

On Monday Hallead said he expected Schlumberger to report earnings per share of 20 cents per share for the second quarter, slightly lower than the consensus of 22 cents.

Hallead said the key points for the company's analyst conference call on Friday will be the company's outlook for the second half of the year, customer inquiries and pricing discussions, its Latin American activity so far in the third quarter and its appetite for mergers and acquisitions going forward. 

The analyst will also be looking for the company's view on oil supply-demand, an update on its integration of Cameron International and its returns as well as its "land rig of the future," color on its investments through Schlumberger Production Management and their returns, general exploration and seismic trends and priorities for the use of its cash.

The Cameron deal might already be paying off, as Schlumberger announced last week that its OneSubsea business landed a $300 million award from Woodside for Energy for engineering, procurement and construction services for its Enfield project off the coast of northwest Australia. "[It was a] nice win for the company exemplifying the benefits of the CAM acquisition," Piper Jaffray's Simmons & Co. International wrote in a report.

Schlumberger is a holding in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells SLB? Learn more now.