Schlumberger +4.7% after long-term profit guidance beats expectations

|About: Schlumberger Limited (SLB)|By:, SA News Editor

Schlumberger (SLB +4.7%) surges after providing long-term profit guidance at an investor presentation today, predicting EPS growth at a compound annual growth rate of 17%-20%; in an earlier note, RBC analyst Kurt Hallead wrote that the Street was expecting the company's EPS to grow at an annualized rate of 15%.

SLB says it can achieve $9-$10 EPS through revenue growth, margin expansion and share repurchases; Hallead had predicted SLB's EPS would reach $8 in 2016.

Expects spending on exploration would be subdued in 2015, but expects a renewed focus on exploration in 2016-17.

Other oil services companies also are higher: HAL +2.1%, BHI +1.9%, WFT +1.1%, NOV +1%.