Schlumberger Limited (NYSE:SLB) Increases Dividend to $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 2.16%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25.

Schlumberger has raised its dividend by an average of 4.6% per year over the last three years and has raised its dividend annually for the last 3 consecutive years. Schlumberger has a dividend payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Schlumberger to earn $4.25 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 23.5%.

Schlumberger Stock Up 0.3 %

NYSE SLB opened at $50.94 on Friday. The company has a market capitalization of $72.71 billion, a P/E ratio of 17.45, a P/E/G ratio of 0.97 and a beta of 1.60. The stock has a 50 day moving average price of $51.56 and a 200-day moving average price of $52.48. Schlumberger has a one year low of $42.73 and a one year high of $62.12. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32.

Schlumberger (NYSE:SLB) last issued its quarterly 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 company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. Schlumberger’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. As a group, equities analysts predict that Schlumberger will post 3.52 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLB. Stifel Nicolaus raised their price target on Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Barclays lowered their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Wednesday, April 3rd. HSBC restated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Finally, Susquehanna reiterated a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a research note on Monday, April 8th. One research analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $70.31.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the transaction, the executive vice president now owns 386,841 shares in the company, valued at $19,504,523.22. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Kevin Fyfe sold 20,223 shares of the firm’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $52.05, for a total transaction of $1,052,607.15. Following the transaction, the vice president now owns 31,198 shares in the company, valued at $1,623,855.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $50.42, for a total value of $1,944,699.40. Following the transaction, the executive vice president now owns 386,841 shares in the company, valued at approximately $19,504,523.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 172,191 shares of company stock worth $8,636,322. Company insiders own 0.26% of the company’s stock.

Hedge Funds Weigh In On Schlumberger

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in Schlumberger in the first quarter valued at about $25,000. Coppell Advisory Solutions LLC purchased a new position in Schlumberger in the second quarter valued at about $27,000. Tyler Stone Wealth Management purchased a new position in Schlumberger in the second quarter valued at about $33,000. Resurgent Financial Advisors LLC purchased a new position in Schlumberger in the fourth quarter valued at about $35,000. Finally, Worth Asset Management LLC purchased a new position in Schlumberger in the first quarter valued at about $42,000. Hedge funds and other institutional investors 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.