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 given 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 2.84%. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28.

Schlumberger has increased its dividend payment by an average of 30.1% per year over the last three years. Schlumberger has a dividend payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Schlumberger to earn $3.58 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 31.8%.

Schlumberger Stock Down 2.0 %

Shares of Schlumberger stock opened at $40.21 on Monday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $40.49 and its 200-day simple moving average is $42.54. The stock has a market capitalization of $56.32 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 9.55 and a beta of 1.51. Schlumberger has a twelve month low of $36.52 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. Equities research analysts forecast that Schlumberger will post 3.38 earnings per share for the current year.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SLB. Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Stifel Nicolaus dropped their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Susquehanna dropped their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. JPMorgan Chase & Co. raised their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Six equities 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 MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

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.