Schlumberger’s Neutral Rating Reaffirmed at Zacks (SLB)
Schlumberger (NYSE:SLB)‘s stock had its “neutral” rating restated by Zacks in a report issued on Monday, AnalystRatings.Net reports. They currently have a $93.00 price objective on the stock. Zacks‘ price target indicates a potential upside of 5.50% from the company’s current price.
Zacks‘ analyst wrote, “We are maintaining our Neutral recommendation on Schlumberger following its strong fourth-quarter results, which were aided by international exposure, solid execution and integration capabilities. Also contributing to the positive results were Schlumberger’s performances in the Gulf of Mexico region and its diverse product offerings. However, these factors were partially offset by seasonal activity slowdown, weather-related work delays and lower pricing due to excess capacity in the U.S. Also, Schlumberger faces a number of headwinds, including changes in exploration and production spending patterns, commodity price fluctuations and overall economic conditions. Given these factors, we expect shares of Schlumberger to perform in line with the broader equity market.”
In other Schlumberger news, Director Mark Danton sold 1,484 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $92.00, for a total transaction of $136,528.00. Following the completion of the transaction, the director now directly owns 44,433 shares in the company, valued at approximately $4,087,836. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “hold” rating on shares of Schlumberger in a research note to investors on Tuesday, January 21st. Separately, analysts at Credit Suisse raised their price target on shares of Schlumberger from $105.00 to $108.00 in a research note to investors on Tuesday, January 21st. They now have a “neutral” rating on the stock. Finally, analysts at Johnson Rice upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, January 21st. Five analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $104.14.
Schlumberger (NYSE:SLB) traded down 1.30% on Monday, hitting $87.00. The stock had a trading volume of 2,558,048 shares. Schlumberger has a one year low of $69.08 and a one year high of $94.91. The stock’s 50-day moving average is $88.16 and its 200-day moving average is $86.96. The company has a market cap of $114.6 billion and a price-to-earnings ratio of 18.33.
Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The company reported $1.35 earnings per share for the quarter, meeting the analysts’ 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. Analysts expect that Schlumberger will post $4.79 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, April 11th. Shareholders 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 1.82%.
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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