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

Schlumberger Limited (NYSE:SLB) announced a quarterly dividend on Thursday, October 17th, 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 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Wednesday, December 4th.

Schlumberger has raised its dividend payment by an average of 4.6% per year over the last three years. Schlumberger has a payout ratio of 27.8% indicating that 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 Performance

NYSE SLB opened at $41.92 on Friday. The stock has a market capitalization of $59.52 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 0.96 and a beta of 1.51. The stock has a 50-day moving average of $43.10 and a 200 day moving average of $46.08. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. Schlumberger has a twelve month low of $38.66 and a twelve month high of $60.85.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping 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 business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the prior year, the company posted $0.78 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts anticipate that Schlumberger will post 3.46 EPS for the current fiscal year.

Insider Activity

In other news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction dated 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 directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Susquehanna cut their price objective on Schlumberger from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Friday, October 11th. Piper Sandler reduced their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Barclays lowered their price target on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. reduced their price objective 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 analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $62.97.

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.