Schlumberger Limited (NYSE:SLB – Get Rating) announced a quarterly dividend on Monday, April 25th, Wall Street Journal reports. Shareholders of record on Wednesday, June 1st will be given a dividend of 0.175 per share by the oil and gas company on Thursday, July 14th. This represents a $0.70 annualized dividend and a dividend yield of 1.45%. The ex-dividend date is Tuesday, May 31st. This is a positive change from Schlumberger’s previous quarterly dividend of $0.13.
Schlumberger has decreased its dividend by an average of 37.0% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Schlumberger has a payout ratio of 26.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Schlumberger to earn $2.63 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 26.6%.
Shares of NYSE SLB opened at $48.21 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.24. Schlumberger has a fifty-two week low of $25.90 and a fifty-two week high of $48.42. The stock has a market cap of $68.14 billion, a PE ratio of 32.80 and a beta of 1.91. The stock has a fifty day moving average of $41.71 and a 200-day moving average of $37.59.
A number of brokerages have weighed in on SLB. Barclays upped their target price on Schlumberger from $48.00 to $55.00 in a research note on Wednesday, April 27th. Cowen raised their target price on shares of Schlumberger from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, March 31st. HSBC upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and lifted their target price for the company from $4.60 to $44.20 in a research report on Wednesday, April 27th. Wells Fargo & Company decreased their price target on shares of Schlumberger from $56.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, April 25th. Finally, The Goldman Sachs Group raised shares of Schlumberger from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, March 22nd. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $46.51.
In other Schlumberger news, insider Katharina Beumelburg sold 4,200 shares of the business’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $40.28, for a total value of $169,176.00. Following the transaction, the insider now owns 519 shares in the company, valued at $20,905.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Kevin Fyfe sold 20,708 shares of the stock in a transaction dated Wednesday, March 2nd. The stock was sold at an average price of $38.50, for a total transaction of $797,258.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,556,536 shares of company stock worth $227,082,838. 0.28% of the stock is owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in Schlumberger in the first quarter valued at $25,000. Worth Asset Management LLC bought a new stake in shares of Schlumberger during the 1st quarter valued at about $42,000. EverSource Wealth Advisors LLC purchased a new position in shares of Schlumberger during the fourth quarter valued at about $39,000. Lumature Wealth Partners LLC raised its stake in Schlumberger by 1,802.7% in the first quarter. Lumature Wealth Partners LLC now owns 1,427 shares of the oil and gas company’s stock worth $59,000 after buying an additional 1,352 shares in the last quarter. Finally, KB Financial Partners LLC bought a new stake in Schlumberger during the 4th quarter valued at approximately $47,000. Institutional investors own 76.34% of the company’s stock.
Schlumberger Company Profile (Get Rating)
Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.
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