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

Schlumberger Limited (NYSE:SLB) declared a quarterly dividend on Friday, April 19th, RTT News reports. Stockholders of record on Wednesday, June 5th will be given 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 dividend 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 increased its dividend annually for the last 3 consecutive years. Schlumberger has a dividend 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 Stock Performance

NYSE:SLB opened at $49.84 on Friday. 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 firm has a 50-day moving average price of $51.62 and a 200 day moving average price of $52.43. The firm has a market capitalization of $71.14 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.60. Schlumberger has a 12-month low of $42.73 and a 12-month high of $62.12.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. Schlumberger’s quarterly 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. Research analysts anticipate that Schlumberger will post 3.51 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Benchmark reissued a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Wednesday, April 3rd. Susquehanna reaffirmed a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research note on Monday, April 8th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Stifel Nicolaus boosted 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. Finally, Wells Fargo & Company raised their price target on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $70.31.

Insider Buying and Selling

In other news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the transaction, the chief financial officer now owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated Monday, February 26th. The stock was 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 disclosure for this sale can be found here. In the last three months, insiders have sold 172,191 shares of company stock valued at $8,636,322. 0.26% of the stock is owned by insiders.

Institutional Investors Weigh In On Schlumberger

Several institutional investors and hedge funds have recently made changes to their positions in the stock. West Tower Group LLC acquired a new stake in shares of Schlumberger during the 4th quarter worth approximately $101,000. Harbour Investments Inc. lifted its position in shares of Schlumberger by 43.8% during the 3rd quarter. Harbour Investments Inc. now owns 1,694 shares of the oil and gas company’s stock worth $99,000 after buying an additional 516 shares in the last quarter. Hobbs Group Advisors LLC bought a new position in Schlumberger in the 4th quarter valued at $80,000. KB Financial Partners LLC purchased a new position in Schlumberger in the first quarter valued at about $75,000. Finally, Coppell Advisory Solutions Corp. bought a new stake in shares of Schlumberger in the fourth quarter valued at $61,000. Institutional investors and hedge funds own 81.99% 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.