Schlumberger Limited (NYSE:SLB) Declares Dividend Increase – $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 annualized dividend and a dividend yield of 2.77%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28.

Schlumberger has raised its dividend by an average of 30.1% per year over the last three years. Schlumberger has a payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Shares of SLB stock opened at $41.16 on Friday. Schlumberger has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a market capitalization of $58.13 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.35 and a beta of 1.52. The company has a 50-day simple moving average of $40.89 and a 200 day simple moving average of $42.93. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $9,241,140 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Schlumberger will post 3.39 earnings per share for the current year.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated 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 of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SLB. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Wells Fargo & Company dropped their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Citigroup reduced their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. TD Cowen dropped their price target on Schlumberger from $65.00 to $53.00 and set a “buy” rating for the company in a research note on Wednesday, January 8th. Finally, Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $56.03.

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.