Schlumberger Limited Declares Quarterly Dividend of $0.28 (NYSE:SLB)

Schlumberger Limited (NYSE:SLB) announced a quarterly dividend on Thursday, October 17th,RTT News reports. Stockholders of record on Wednesday, December 4th will be paid a dividend of 0.275 per share by the oil and gas company on Thursday, January 9th. This represents a $1.10 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Wednesday, December 4th.

Schlumberger has raised its dividend by an average of 4.6% annually over the last three years. Schlumberger has a payout ratio of 30.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Schlumberger to earn $3.65 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 30.1%.

Schlumberger Trading Up 0.6 %

Shares of SLB stock opened at $43.94 on Monday. Schlumberger has a twelve month low of $38.66 and a twelve month high of $55.69. The company has a market capitalization of $62.05 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.55 and a beta of 1.52. The firm has a 50-day moving average price of $42.98 and a 200 day moving average price of $44.36. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Research analysts forecast that Schlumberger will post 3.39 earnings per share for the current fiscal year.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’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 completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the company. Bank of America lowered their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. TD Cowen dropped their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. UBS Group lowered their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. dropped their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $60.97.

About Schlumberger

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.