Schlumberger Limited. (SLB) to Issue Quarterly Dividend of $0.50 on April 12th

Schlumberger Limited. (NYSE:SLB) announced a quarterly dividend on Friday, January 18th, RTT News reports. Investors of record on Wednesday, February 13th will be given a dividend of 0.50 per share by the oil and gas company on Friday, April 12th. This represents a $2.00 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Tuesday, February 12th.

Schlumberger has increased its dividend by an average of 1.7% annually over the last three years. Schlumberger has a dividend payout ratio of 111.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Schlumberger to earn $2.35 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 85.1%.

NYSE SLB opened at $42.78 on Monday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.87 and a current ratio of 1.17. Schlumberger has a twelve month low of $34.99 and a twelve month high of $75.43. The company has a market cap of $59.16 billion, a P/E ratio of 26.41, a PEG ratio of 2.31 and a beta of 1.36.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 18th. The oil and gas company reported $0.36 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. Schlumberger had a return on equity of 6.12% and a net margin of 6.51%. The company had revenue of $8.18 billion for the quarter, compared to analyst estimates of $8.10 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The firm’s revenue was up .0% on a year-over-year basis. Research analysts predict that Schlumberger will post 1.59 EPS for the current fiscal year.

SLB has been the topic of several research reports. Bank of America restated a “buy” rating and set a $52.00 price target (down from $69.00) on shares of Schlumberger in a research report on Monday, December 3rd. HSBC upgraded Schlumberger from a “hold” rating to a “buy” rating in a research note on Sunday, December 2nd. UBS Group lowered their price objective on Schlumberger from $92.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, October 22nd. Citigroup lowered their price objective on Schlumberger from $77.00 to $72.00 and set a “buy” rating for the company in a research note on Monday, October 22nd. Finally, Jefferies Financial Group lowered their price objective on Schlumberger to $54.00 and set a “buy” rating for the company in a research note on Thursday, December 6th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $66.65.

In other news, EVP Peuch Olivier Le sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $44.00, for a total value of $660,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Patrick Schorn purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, December 20th. The stock was acquired at an average price of $37.55 per share, with a total value of $375,500.00. Following the purchase, the executive vice president now directly owns 35,000 shares of the company’s stock, valued at $1,314,250. The disclosure for this purchase can be found here. 0.48% of the stock is owned by insiders.

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About Schlumberger

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

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Dividend History for Schlumberger (NYSE:SLB)

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