Schlumberger Limited. (SLB) was Upgraded by Barclays to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 93 from a previous price target of $83 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on Apr 20, 2016.
Many Wall Street Analysts have commented on Schlumberger Limited.. Schlumberger Limited. was Initiated by Nomura to “Buy” on Apr 8, 2016. Schlumberger Limited. was Resumed by Credit Suisse to “Outperform” on Apr 4, 2016. Goldman Resumed Schlumberger Limited. on Apr 4, 2016 to “Buy”, Price Target of the shares are set at $82.
On the company’s financial health, Schlumberger Limited. reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $0.63. The company had revenue of $7744.00 million for the quarter, compared to analysts expectations of $7786.76 million. The company’s revenue was down -38.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.50 EPS.
Schlumberger Limited. opened for trading at $74.74 and hit $77.5 on the upside on Monday, eventually ending the session at $77.45, with a gain of 1.56% or 1.19 points. The heightened volatility saw the trading volume jump to 59,47,529 shares. Company has a market cap of $97,306 M.
In a different news, on Mar 3, 2016, Sherif Foda (President Production Group) sold 197 shares at $74.09 per share price. According to the SEC, on Jan 25, 2016, Mark Danton (Vice President-Director of Tax) sold 2,294 shares at $65.92 per share price. On Jan 25, 2016, Howard Guild (Chief Accounting Officer) sold 2,305 shares at $65.86 per share price, according to the Form-4 filing with the securities and exchange commission.
Schlumberger N.V. is a supplier of technology integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three Groups which include Reservoir Characterization Group which consists of the principal technologies involved in finding and defining hydrocarbon resources; Drilling Group which consists of the principal technologies involved in the drilling and positioning of oil and gas wells and Production Group which consists of the principal technologies involved in the lifetime production of oil and gas reservoirs and includes Well Services Completions Artificial Lift Well Intervention Water Services and the Schlumberger Production Management field production projects.