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

Schlumberger Limited (NYSE:SLB) declared a quarterly dividend on Friday, October 18th, RTT News reports. Stockholders of record on Wednesday, December 4th will be given 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 2.62%.

Schlumberger has raised its dividend by an average of 4.6% annually over the last three years. Schlumberger has a payout ratio of 27.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Schlumberger to earn $4.01 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 27.4%.

Schlumberger Stock Down 4.7 %

Shares of Schlumberger stock opened at $41.92 on Friday. The firm has a market cap of $59.52 billion, a PE ratio of 13.70, a P/E/G ratio of 0.96 and a beta of 1.51. The business’s 50 day simple moving average is $43.10 and its 200 day simple moving average is $46.08. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger has a 52-week low of $38.66 and a 52-week high of $60.85.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the company earned $0.78 earnings per share. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Schlumberger will post 3.46 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent research reports. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Wells Fargo & Company lowered their price target on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Finally, UBS Group lowered their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $62.97.

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.