Schlumberger (SLB) Price Target Raised to $110 at UBS
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April 20, 2015 7:28 AM EDT
CLSA downgraded Schlumberger (NYSE: SLB) from Buy to Underperform with a price target of $94.00.
For an analyst ratings summary and ratings history on Schlumberger click here. For more ratings news on Schlumberger click here.
Shares of Schlumberger closed at $92.86 yesterday.
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April 16, 2015 4:07 PM EDT
Schlumberger Ltd. (NYSE: SLB) reported Q1 EPS of $1.06, $0.09 better than the analyst estimate of $0.97. Revenue for the quarter came in at $10.25 billion versus the consensus estimate of $10.55 billion.
Schlumberger Chairman and CEO Paal Kibsgaard commented, Schlumberger first-quarter revenue decreased 19% sequentially driven by the severe decline in North American land activity and associated pricing pressure. International operations were impacted by reduced customer spend in addition to seasonal effects in the Northern Hemisphere and the fall in value of the Russian ruble and the Venezuelan bolivar. Three-quarters of the overall sequential decline was due to... More
