Schlumberger’s Buy Rating Reaffirmed at Socgen (SLB)
Schlumberger (NYSE:SLB)‘s stock had its “buy” rating reaffirmed by investment analysts at Socgen in a note issued to investors on Thursday, AR Network reports. They currently have a $106.00 target price on the stock, down from their previous target price of $110.00. Socgen’s price objective would indicate a potential upside of 19.63% from the stock’s previous close.
Schlumberger (NYSE:SLB) traded down 0.31% on Thursday, hitting $88.61. The stock had a trading volume of 6,917,404 shares. Schlumberger has a one year low of $69.08 and a one year high of $94.91. The stock has a 50-day moving average of $87.74 and a 200-day moving average of $86.35. The company has a market cap of $116.7 billion and a P/E ratio of 18.48.
Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The company reported $1.29 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts expect that Schlumberger will post $4.79 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on SLB. Analysts at Iberia Capital downgraded shares of Schlumberger from an “outperform” rating to a “sector perform” rating in a research note to investors on Friday, January 10th. Separately, analysts at Cowen and Company cut their price target on shares of Schlumberger from $116.00 to $105.00 in a research note to investors on Tuesday, January 7th. They now have an “outperform” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Schlumberger in a research note to investors on Sunday, January 5th. Four research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Schlumberger currently has a consensus rating of “Buy” and a consensus target price of $104.29.
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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