Schlumberger Limited. Price Target Raised to $122.00 at JPMorgan Chase & Co. (SLB)
Equities research analysts at JPMorgan Chase & Co. upped their target price on shares of Schlumberger Limited. (NYSE:SLB) from $109.00 to $122.00 in a research note issued to investors on Wednesday, Stock Ratings News reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 31.81% from the stock’s previous close.
Shares of Schlumberger Limited. (NYSE:SLB) traded down 0.23% during mid-day trading on Wednesday, hitting $92.35. The stock had a trading volume of 4,337,738 shares. Schlumberger Limited. has a 52-week low of $69.08 and a 52-week high of $94.91. The stock has a 50-day moving average of $89.2 and a 200-day moving average of $88.49. The company has a market cap of $120.7 billion and a price-to-earnings ratio of 18.34.
Schlumberger Limited. (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The company reported $1.35 EPS for the quarter, meeting the Thomson Reuters 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 prior year, the company posted $1.08 earnings per share. The company’s quarterly revenue was up 7.4% on a year-over-year basis. Analysts expect that Schlumberger Limited. will post $5.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, April 11th. Investors of record on Wednesday, February 19th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, February 14th.
In other Schlumberger Limited. news, President Patrick Schorn sold 52,000 shares of the stock on the open market in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.18, for a total transaction of $4,793,360.00. Following the completion of the transaction, the president now directly owns 20,000 shares in the company, valued at approximately $1,843,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of other firms have also recently commented on SLB. Analysts at EVA Dimensions LLC upgraded shares of Schlumberger Limited. from a “hold” rating to an “overweight” rating in a research note on Wednesday, February 19th. Separately, analysts at TheStreet reiterated a “hold” rating on shares of Schlumberger Limited. in a research note on Tuesday, February 11th. Finally, analysts at TheStreet reiterated a “hold” rating on shares of Schlumberger Limited. in a research note on Friday, January 31st. Five research analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the company. Schlumberger Limited. currently has an average rating of “Buy” and an average target price of $104.45.
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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