Schlumberger Limited (NYSE:SLB) Plans $0.28 Quarterly Dividend

Schlumberger Limited (NYSE:SLB) announced a quarterly dividend on Friday, October 18th, 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 dividend on an annualized basis and a dividend yield of 2.62%.

Schlumberger has increased its dividend payment by an average of 4.6% per year over the last three years. Schlumberger has a dividend payout ratio of 27.8% meaning 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 SLB opened at $41.92 on Friday. The firm has a 50 day simple moving average of $43.10 and a two-hundred day simple moving average of $46.08. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger has a one year low of $38.66 and a one year high of $60.85. The company has a market cap of $59.52 billion, a P/E ratio of 13.70, a P/E/G ratio of 0.96 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results 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. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter last year, the company posted $0.78 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Research analysts forecast that Schlumberger will post 3.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research reports. Evercore ISI increased their target price on shares of Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Wells Fargo & Company dropped their price objective on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Stifel Nicolaus dropped their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Finally, Dbs Bank initiated coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price objective on the stock. Two research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $62.97.

Insider Activity at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock worth $9,048,624 over the last ninety days. Insiders own 0.26% of the company’s stock.

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.