Schlumberger Limited. Hits New 1-Year High Following Analyst Upgrade (SLB)
Schlumberger Limited. (NYSE:SLB) reached a new 52-week high during trading on Monday after Argus raised their price target on the stock from $121.00 to $150.00, American Banking and Market News reports. Argus currently has a buy rating on the stock. Schlumberger Limited. traded as high as $117.80 and last traded at $117.24, with a volume of 2,866,090 shares changing hands. The stock had previously closed at $117.80.
SLB has been the subject of a number of other recent research reports. Analysts at Credit Suisse reiterated an “outperform” rating on shares of Schlumberger Limited. in a research note on Friday. They now have a $137.00 price target on the stock, up previously from $120.00. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Schlumberger Limited. in a research note on Thursday. They now have a $168.00 price target on the stock, up previously from $115.00. Finally, analysts at Howard Weil raised their price target on shares of Schlumberger Limited. from $120.00 to $130.00 in a research note on Thursday. They now have a “sector outperform” rating on the stock. Four research analysts have rated the stock with a hold rating and twenty-six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $121.64.
The stock’s 50-day moving average is $104.9 and its 200-day moving average is $95.70. The company has a market cap of $152.9 billion and a P/E ratio of 22.14.
Schlumberger Limited. (NYSE:SLB) last released its earnings data on Thursday, April 17th. The company reported $1.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.20 by $0.01. The company had revenue of $11.24 billion for the quarter, compared to the consensus estimate of $11.49 billion. During the same quarter last year, the company posted $1.01 earnings per share. Schlumberger Limited.’s revenue was up 6.3% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited. will post $5.69 earnings per share for the current fiscal year.
Schlumberger N.V. (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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