Schlumberger (SLB) Releases Quarterly Earnings Results
Schlumberger (NYSE:SLB) posted its quarterly earnings results on Friday. The company reported $1.35 earnings per share for the quarter, meeting the analysts’ consensus estimate of $1.35, Analyst Ratings News reports. The company had revenue of $11.91 billion for the quarter, compared to the consensus estimate of $12.06 billion.
SLB has been the subject of a number of recent research reports. 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. On a related note, 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 equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $104.29.
Schlumberger (NYSE:SLB) opened at 88.61 on Friday. 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 $116.7 billion and a P/E ratio of 18.48. Schlumberger also saw some unusual options trading on Thursday. Traders bought 25,147 call options on the stock. This is an increase of 226% compared to the typical volume of 7,715 call options.
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%.
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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