Schlumberger Limited (NYSE:SLB) Announces Dividend Increase – $0.28 Per Share

Schlumberger Limited (NYSE:SLB) declared a quarterly dividend on Friday, April 19th, RTT News reports. Investors 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 an increase from Schlumberger’s previous quarterly dividend of $0.25.

Schlumberger has raised its dividend payment by an average of 4.6% per year over the last three years and has raised its dividend every year for the last 3 years. Schlumberger has a payout ratio of 26.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

SLB stock opened at $49.84 on Friday. The company has a market capitalization of $71.14 billion, a PE ratio of 17.07, a P/E/G ratio of 0.97 and a beta of 1.60. 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 stock’s 50 day moving average is $51.62 and its two-hundred day moving average is $52.43. Schlumberger has a 52-week low of $42.73 and a 52-week high of $62.12.

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

Analysts Set New Price Targets

SLB has been the subject of several research analyst reports. Bank of America boosted their price objective on Schlumberger from $62.00 to $63.00 and gave the company a “buy” rating in a report on Monday, April 15th. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Royal Bank of Canada raised their price objective on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Wednesday, April 3rd. Finally, Stifel Nicolaus increased their target price on shares of Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $70.31.

Insider Transactions at Schlumberger

In related news, CAO Howard Guild sold 22,853 shares of the firm’s stock in a transaction that occurred on Wednesday, January 24th. The stock was sold at an average price of $51.66, for a total value of $1,180,585.98. Following the sale, the chief accounting officer now directly owns 22,181 shares in the company, valued at approximately $1,145,870.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Howard Guild sold 22,853 shares of the stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total value of $1,180,585.98. Following the completion of the transaction, the chief accounting officer now owns 22,181 shares in the company, valued at approximately $1,145,870.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Over the last three months, insiders sold 172,191 shares of company stock worth $8,636,322. Company insiders own 0.26% of the company’s stock.

Institutional Investors Weigh In On Schlumberger

Institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in shares of Schlumberger in the 1st quarter worth $25,000. Coppell Advisory Solutions LLC acquired a new position in Schlumberger during the second quarter worth about $27,000. Tyler Stone Wealth Management bought a new stake in Schlumberger in the second quarter worth about $33,000. Resurgent Financial Advisors LLC acquired a new stake in Schlumberger in the 4th quarter valued at about $35,000. Finally, Worth Asset Management LLC acquired a new stake in Schlumberger in the 1st quarter valued at about $42,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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.