Schlumberger Limited (NYSE:SLB) Increases Dividend to $0.29 Per Share

Schlumberger Limited (NYSE:SLB) declared a quarterly dividend on Friday, January 17th,RTT News reports. Shareholders of record on Wednesday, February 5th will be paid a dividend of 0.285 per share by the oil and gas company on Thursday, April 3rd. This represents a $1.14 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28.

Schlumberger has increased its dividend by an average of 30.1% per year over the last three years. Schlumberger has a dividend payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Schlumberger to earn $3.35 per share next year, which means the company should continue to be able to cover its $1.10 annual dividend with an expected future payout ratio of 32.8%.

Schlumberger Price Performance

Shares of SLB opened at $43.58 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company’s fifty day moving average price is $40.86 and its 200-day moving average price is $42.90. Schlumberger has a 1-year low of $36.52 and a 1-year high of $55.69. The firm has a market capitalization of $61.54 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. During the same quarter in the previous year, the business earned $0.86 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that Schlumberger will post 3.39 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SLB shares. BMO Capital Markets reduced their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Susquehanna dropped their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company decreased their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group dropped their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.03.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.26% of the stock is currently owned by insiders.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.