Barclays Lowers Schlumberger Price Target to $136.00 (SLB)
Research analysts at Barclays decreased their price objective on shares of Schlumberger (NYSE:SLB) from $138.00 to $136.00 in a report released on Friday, Analyst Ratings Net reports. Barclays’ target price would suggest a potential upside of 53.48% from the stock’s previous close.
Schlumberger (NYSE:SLB) traded up 1.73% on Friday, hitting $90.14. The stock had a trading volume of 9,123,136 shares. Schlumberger has a 52 week low of $69.08 and a 52 week high of $94.91. The stock’s 50-day moving average is $87.76 and its 200-day moving average is $86.36. The company has a market cap of $118.7 billion and a P/E ratio of 18.43. Schlumberger also was the recipient of unusually large options trading on Thursday. Stock investors bought 25,147 call options on the stock. This represents an increase of 226% compared to the typical volume of 7,715 call options.
Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The company reported $1.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.35. The company had revenue of $11.91 billion for the quarter, compared to the consensus estimate of $12.06 billion. During the same quarter in the previous year, the company posted $1.08 earnings per share. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. On average, analysts predict that Schlumberger will post $4.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, April 11th. Investors of record on Wednesday, February 19th will be given a dividend of 0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.81%.
Several other analysts have also recently commented on the stock. Analysts at Socgen reiterated a “buy” rating on shares of Schlumberger in a research note to investors on Thursday. They now have a $106.00 price target on the stock, down previously from $110.00. Separately, 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. Finally, 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. Four research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Schlumberger has an average rating of “Buy” and an average target price of $104.19.
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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