SLB Limited (NYSE:SLB) Announces Quarterly Dividend of $0.30

SLB Limited (NYSE:SLB) announced a quarterly dividend on Thursday, April 23rd. Investors of record on Wednesday, June 3rd will be given a dividend of 0.295 per share by the oil and gas company on Thursday, July 9th. This represents a c) annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd.

SLB has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. SLB has a payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect SLB to earn $3.38 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 34.9%.

SLB Stock Up 2.7%

SLB stock traded up $1.46 during mid-day trading on Friday, reaching $56.20. The company had a trading volume of 23,197,333 shares, compared to its average volume of 19,905,951. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.33 and a quick ratio of 0.98. The stock has a 50 day simple moving average of $50.15 and a two-hundred day simple moving average of $43.51. The company has a market capitalization of $84.44 billion, a price-to-earnings ratio of 23.71, a PEG ratio of 3.73 and a beta of 0.69. SLB has a 52 week low of $31.64 and a 52 week high of $56.90.

SLB (NYSE:SLB) last posted its quarterly earnings results on Friday, April 24th. The oil and gas company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.08). SLB had a return on equity of 17.45% and a net margin of 9.45%.The business’s revenue was up 2.7% compared to the same quarter last year. During the same period last year, the business posted $0.72 EPS. As a group, equities analysts predict that SLB will post 2.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SLB shares. Freedom Capital downgraded shares of SLB from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 27th. Piper Sandler increased their price target on shares of SLB from $53.00 to $59.00 and gave the company an “overweight” rating in a research note on Wednesday, April 15th. Loop Capital set a $48.00 price objective on shares of SLB in a research report on Tuesday, January 27th. Barclays boosted their price objective on shares of SLB from $47.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, January 26th. Finally, Royal Bank Of Canada upped their target price on shares of SLB from $51.00 to $54.00 and gave the company an “outperform” rating in a report on Monday, January 26th. Three analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $54.27.

SLB Company Profile

SLB (NYSE: SLB), historically known as Schlumberger, is a leading global provider of technology, integrated project management and information solutions for the energy industry. Founded by Conrad and Marcel Schlumberger in 1926, the company develops and supplies products and services used across the exploration, drilling, completion and production phases of oil and gas development. Its offerings are intended to help operators characterize reservoirs, drill and complete wells, optimize production and manage field operations throughout the asset lifecycle.

SLB’s product and service portfolio spans reservoir characterization and well testing, wireline and logging services, directional drilling and drilling tools, well construction and completion technologies, production systems, and subsea equipment.