Schlumberger (SLB) Announces Quarterly Earnings, Meets Expectations
Schlumberger (SLB) announced its earnings results on Friday. The company reported $0.98 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.98. The company’s revenue for the quarter was up 21.7% on a year-over-year basis.
SLB has been the subject of a number of recent research reports. Analysts at HSBC (NYSE: HBC) cut their price target on shares of Schlumberger from $94.00 to $91.00 in a research note to investors on Tuesday, April 24th. They now have an “overweight” rating on the stock. On a related note, analysts at Citigroup (NYSE: C) raised their price target on shares of Schlumberger from $86.00 to $89.00 in a research note to investors on Monday, April 23rd. Finally, analysts at Sterne Agee upgraded shares of Schlumberger from a “neutral” rating to a “buy” rating in a research note to investors on Tuesday, April 3rd. They now have a $93.00 price target on the stock.
Shares of Schlumberger (SLB) traded down 1.07% during mid-day trading on Wednesday, hitting $69.64. Schlumberger (SLB) has a one year low of $54.79 and a one year high of $95.53. The company has a market cap of $92.869 billion and a P/E ratio of 17.80.
Schlumberger Limited (Schlumberger) is a supplier of technology, integrated project management and information solutions to customers working in the oil and gas industry.