Jefferies Group reissued their buy rating on shares of Schlumberger (NYSE:SLB) in a research report sent to investors on Monday morning, ARN reports. The firm currently has a $97.00 price target on the stock, up from their previous price target of $86.00.
“SLB impresses with its consistency. We raise our PT to $97 from $86, effectively raising our target multiple (although our PT remains DCF-based) to reflect confidence in the medium term growth outlook. We accept that management is signaling a somewhat more aggressive approach to returning cash and expect share buybacks to be a more relevant part of the conversation over the next two years. Maintain Buy.,” the firm’s analyst wrote.
Schlumberger (NYSE: SLB) traded down 0.60% on Monday, hitting $83.07. Schlumberger has a 1-year low of $66.85 and a 1-year high of $85.02. The stock’s 50-day moving average is currently $74.55. The company has a market cap of $110.2 billion and a price-to-earnings ratio of 18.22.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 11th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.31 per share. This represents a $1.25 dividend on an annualized basis and a yield of 1.50%.
A number of other analysts have also recently weighed in on SLB. Analysts at Susquehanna set a $96.00 price target on shares of Schlumberger in a research note to investors on Monday. They now have a positive rating on the stock. Separately, analysts at Global Hunter Securities upgraded shares of Schlumberger from a neutral rating to a buy rating in a research note to investors on Monday. They now have a $97.00 price target on the stock, up previously from $80.00. Finally, analysts at Cowen and Company raised their price target on shares of Schlumberger from $93.00 to $105.00 in a research note to investors on Monday. They now have an outperform rating on the stock.
Five research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus price target of $93.60.
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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