Susquehanna Increases Schlumberger Price Target to $105.00 (SLB)
Investment analysts at Susquehanna raised their price objective on shares of Schlumberger (NYSE:SLB) from $96.00 to $105.00 in a note issued to investors on Wednesday, StockRatingsNetwork reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price indicates a potential upside of 13.91% from the company’s current price.
SLB has been the subject of a number of other recent research reports. Analysts at HSBC downgraded shares of Schlumberger from an “overweight” rating to a “neutral” rating in a research note to investors on Tuesday. They now have a $98.00 price target on the stock, up previously from $96.00. Separately, analysts at Cowen and Company cut their price target on shares of Schlumberger from $105.00 to $101.00 in a research note to investors on Wednesday, October 9th. They now have an “outperform” rating on the stock. Finally, 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, October 8th. They now have an “outperform” rating on the stock. Five analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $96.92.
Schlumberger (NYSE:SLB) traded up 1.81% during mid-day trading on Wednesday, hitting $92.18. The stock had a trading volume of 9,084,539 shares. Schlumberger has a 52-week low of $66.85 and a 52-week high of $92.40. The stock’s 50-day moving average is $87.22 and its 200-day moving average is $79.08. The company has a market cap of $122.0 billion and a price-to-earnings ratio of 19.74. Schlumberger also saw unusually large options trading activity on Tuesday. Stock investors purchased 53,517 call options on the stock. This represents an increase of 394% compared to the average volume of 10,844 call options.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The company reported $1.15 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $1.05 earnings per share. The company’s quarterly revenue was up 8.1% on a year-over-year basis. On average, analysts predict that Schlumberger will post $4.76 earnings per share 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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