Investors Buy Shares of Schlumberger Limited. on Weakness (SLB)

Schlumberger Limited has principal offices in Paris, Houston, London and The Hague, and reported revenues of $48.58 billion in 2014. The stock’s 52-week range is $66.57 to $100.54.

SLB has a median Wall Street price target of $90.00 with a high target of $120.00. The stock is down 0.07% or $0.05 after the news, hitting $74.96 per share.

Many analysts have commented on the company rating. Analysts see a 76.5% drop in EPS to 28 cents and a 35.1% drop in revenue to $5.65 billion.

Schlumberger shares were down 0.4 percent at $75.88 in extended trading.

8/26/2015 – Schlumberger Limited. had its price target lowered by analysts at JPMorgan Chase & Co. from $101.00 to $87.00. Worldwide revenue fell 27% year-over-year, while North American revenue sank 47%. The stock ended up at $75.01.

Schlumberger Limited (NYSE:SLB) announced third-quarter earnings of fiscal year 2015 (3QFY15), after the market closed today. 0 analyst has rated the stock with a sell rating, 7 have assigned a hold rating, 2 says it’s a buy, and 14 have assigned a strong buy rating to the company. The company has a market cap of $95.14B and a P/E ratio of 22.33.

Analysts on average were expecting a profit of 77 cents per share on revenue of $8.55 billion, according to Thomson Reuters I/B/E/S. The consensus estimates for the fourth quarter call for EPS of $0.74 on revenues of $8.43 billion. On average, analysts predict that Schlumberger Limited. will post $3.47 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 9th. Stockholders of record on Wednesday, December 2nd will be issued a $0.50 dividend.

First Reserve Gp Xii Ltd holds 67.24% of its portfolio in Schlumberger Limited. for 2.07 million shares. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

“…the market outlook for the coming quarters looks increasingly challenging with activity expected to be reduced further, as lack of available cash flow exhausts capital spending for a number of our customers, leading them to take a conservative view on 2016 E&P [exploration and production] spending in spite of any gradual improvement in oil prices”, CEO Paal Kibsgaard said in a statement. Also, Director Lubna S. Olayan acquired 5,000 shares of Schlumberger Limited. stock in a transaction dated Tuesday, July 21st. The disclosure for this purchase can be found here.

Schlumberger N.V.is a supplier of technology, integrated project management and information solutions to the worldwide oil and gas exploration and production industry. The Companys segments include Reservoir Characterization Group, which consists of the principal technologies involved in finding and defining hydrocarbon deposits; Drilling Group, which consists of the principal technologies involved in the drilling and positioning of oil and gas wells, and Production Group consists of the principal technologies involved in the lifetime production of oil and gas reservoirs and includes Well Services, Completions, Artificial Lift, Well Intervention, Subsea, Water Services, Carbon Services and the Schlumberger Production Management field production projects.