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

Schlumberger Limited (NYSE:SLB) declared a quarterly dividend on Friday, April 19th, RTT News reports. Shareholders of record on Wednesday, June 5th will be paid a dividend of 0.275 per share by the oil and gas company on Thursday, July 11th. This represents a $1.10 dividend on an annualized basis and a yield of 2.21%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25.

Schlumberger has increased its dividend by an average of 4.6% annually over the last three years and has increased its dividend every year for the last 3 years. Schlumberger has a payout ratio of 26.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Schlumberger to earn $4.24 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 25.9%.

Schlumberger Stock Performance

SLB stock opened at $49.85 on Friday. Schlumberger has a twelve month low of $42.73 and a twelve month high of $62.12. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The company has a market cap of $71.16 billion, a P/E ratio of 16.56, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The business’s fifty day moving average is $51.62 and its 200-day moving average is $52.39.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. Equities research analysts forecast that Schlumberger will post 3.51 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Barclays lowered their price objective on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Stifel Nicolaus lifted their target price on Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. HSBC restated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Finally, Wells Fargo & Company lifted their price objective on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. One equities research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $70.31.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,191 shares of company stock worth $8,636,322. Corporate insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Coppell Advisory Solutions LLC acquired a new position in Schlumberger during the second quarter worth $27,000. Acadian Asset Management LLC bought a new position in shares of Schlumberger in the 1st quarter valued at about $25,000. Resurgent Financial Advisors LLC acquired a new position in shares of Schlumberger during the 4th quarter worth about $35,000. Tyler Stone Wealth Management bought a new stake in shares of Schlumberger in the 2nd quarter valued at about $33,000. Finally, Aspire Private Capital LLC lifted its stake in Schlumberger by 145.4% in the 4th quarter. Aspire Private Capital LLC now owns 741 shares of the oil and gas company’s stock valued at $39,613,860,000 after purchasing an additional 439 shares during the last quarter. Institutional investors own 81.99% 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.