Schlumberger Price Target Increased to $107.00 by Analysts at JPMorgan Chase & Co. (SLB)
JPMorgan Chase & Co. raised their price target on shares of Schlumberger (NYSE:SLB) from $105.00 to $107.00 in a research note issued on Tuesday, Stock Ratings Network.com reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target would suggest a potential upside of 13.28% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Schlumberger in a research note to investors on Tuesday. They now have a $124.00 price target on the stock. Separately, analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Schlumberger in a research note to investors on Tuesday. They now have a $112.00 price target on the stock, up previously from $97.00. Finally, analysts at Howard Weil downgraded shares of Schlumberger from a “focus stock” rating to an “outperform” rating in a research note to investors on Tuesday. Five research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $102.75.
In other Schlumberger news, General Counsel Alexander C. Juden sold 55,299 shares of the company’s stock on the open market in a transaction dated Monday, October 21st. The stock was sold at an average price of $93.66, for a total value of $5,179,304.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Schlumberger (NYSE:SLB) traded up 1.05% on Tuesday, hitting $94.46. The stock had a trading volume of 7,695,235 shares. Schlumberger has a 52-week low of $66.85 and a 52-week high of $87.18. The stock’s 50-day moving average is $82.57 and its 200-day moving average is $77.02. The company has a market cap of $124.9 billion and a P/E ratio of 19.44.
Schlumberger (NYSE:SLB) last released its earnings data on Friday, October 18th. The company reported $1.29 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.24 by $0.05. The company had revenue of $11.61 billion for the quarter, compared to the consensus estimate of $11.58 billion. During the same quarter last year, the company posted $1.08 earnings per share. Schlumberger’s revenue was up 10.6% compared to the same quarter last year. On average, analysts predict that Schlumberger will post $4.79 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 10th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.31 per share. This represents a $1.25 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Monday, December 2nd.
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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