Schlumberger Price Target Cut to $101.00 (SLB)
Equities research analysts at Cowen and Company lowered their price target on shares of Schlumberger (NYSE:SLB) from $105.00 to $101.00 in a research note issued to investors on Wednesday, AmericanBankingNews.com reports. The firm currently has an “outperform” rating on the stock. Cowen and Company’s target price suggests a potential upside of 14.84% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Raymond James raised their price target on shares of Schlumberger from $87.00 to $100.00 in a research note to investors on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at TheStreet reiterated a “hold” rating on shares of Schlumberger in a research note to investors on Tuesday. Finally, analysts at Guggenheim raised their price target on shares of Schlumberger from $100.00 to $105.00 in a research note to investors on Monday. They now have a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $96.29.
Shares of Schlumberger (NYSE:SLB) opened at 87.95 on Wednesday. Schlumberger has a 52-week low of $66.85 and a 52-week high of $90.47. The stock’s 50-day moving average is $85.73 and its 200-day moving average is $78.44. The company has a market cap of $116.4 billion and a P/E ratio of 19.17.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, July 19th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.04. The company had revenue of $11.18 billion for the quarter, compared to the consensus estimate of $11.15 billion. During the same quarter in the previous year, the company posted $1.05 earnings per share. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. Analysts expect that Schlumberger will post $4.76 EPS for the current fiscal year.
Schlumberger Limited (NYSE:SLB) is the supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry.
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