TheStreet’s Action Alerts PLUS Portfolio has added to its recently initiated position in oilfield services company Schlumberger (SLB). Jack Mohr, research director at AAP, said the portfolio will add to the stock on weakness. ‘We realize the oil environment, the oil trade is very volatile,’ said Mohr. ‘But if any company is going to come out of it, it’s going to be Schlumberger.’ Mohr pointed to the company’s strong balance sheet, and its position as the undisputed leader in the industry from a technology perspective. Mohr also noted that the company has about a 3% dividend yield and has bought back shares. Mohr is taking a twelve to eighteen month view of the stock.
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