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

Schlumberger Limited (NYSE:SLB) declared a quarterly dividend on Friday, October 18th, RTT News reports. Investors 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%.

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% meaning its dividend is sufficiently covered by earnings. Equities 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 Up 0.7 %

Schlumberger stock opened at $43.99 on Friday. Schlumberger has a 12 month low of $38.66 and a 12 month high of $61.20. The stock has a market capitalization of $62.46 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 0.96 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The business has a 50 day simple moving average of $43.13 and a 200-day simple moving average of $46.17.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the prior year, the business posted $0.72 earnings per share. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts anticipate that Schlumberger will post 3.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research analyst reports. Morgan Stanley reduced their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Stifel Nicolaus decreased their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, October 11th. UBS Group dropped their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Citigroup decreased their price target on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research note on Thursday, October 3rd. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.97.

Insider Activity at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,716 shares of company stock worth $9,048,624. Company insiders own 0.26% of the company’s stock.

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.