SLB Limited (NYSE:SLB) Shareholders Set to Receive $0.29 Quarterly Dividend

Key Points

• SLB declared a quarterly dividend of $0.295 per share, payable January 7 to shareholders of record on December 2. The dividend implies $1.18 in annualized payments and a 2.2% yield, with a 34.7% payout ratio.
• SLB reported quarterly earnings of $0.64 per share, beating estimates by $0.02, while revenue reached $9.45 billion, up 5.8% year over year and ahead of consensus.
• The stock rose 7.0% to $53.03, while analysts maintained a broadly positive outlook: 24 of 27 analysts rated it Buy, producing a “Moderate Buy” consensus and an average price target of $62.27.

SLB Limited (NYSE:SLB - Get Free Report) announced a quarterly dividend on Thursday, October 22nd. Shareholders of record on Wednesday, December 2nd will be given a dividend of $0.2950 per share by the oil and gas company on Thursday, January 7th. This represents a $1.18 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 2nd.

SLB has increased its dividend by an average of 0.1% per year over the last three years and has raised its dividend every year for the last 5 years. SLB has a payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Analysts expect SLB to earn $3.19 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 37.0%.

SLB Trading Up 7.0%

NYSE SLB traded up $3.48 during trading on Friday, hitting $53.03. 19,042,303 shares of the company's stock traded hands, compared to its average volume of 15,859,032. The stock has a fifty day moving average of $52.58 and a two-hundred day moving average of $52.15. SLB has a 12-month low of $34.65 and a 12-month high of $60.46. The firm has a market cap of $78.71 billion, a P/E ratio of 25.62, a PEG ratio of 2.82 and a beta of 0.83. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.44 and a quick ratio of 1.05.

SLB (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, October 23rd. The oil and gas company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.62 by $0.02. The firm had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.27 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%. The company's quarterly revenue was up 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.69 earnings per share. As a group, sell-side analysts expect that SLB will post 2.47 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SLB shares. Citigroup cut their target price on shares of SLB from $63.00 to $62.00 and set a "buy" rating on the stock in a report on Monday. Rothschild & Co Redburn boosted their price objective on shares of SLB from $66.00 to $68.00 and gave the company a "buy" rating in a research report on Friday, September 25th. BMO Capital Markets reaffirmed an "outperform" rating and set a $62.00 price objective (down from $63.00) on shares of SLB in a research note on Tuesday, September 1st. Zacks Research raised shares of SLB from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 25th. Finally, Piper Sandler dropped their target price on shares of SLB from $64.00 to $63.00 and set an "overweight" rating for the company in a report on Monday. Twenty-four investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.27.

SLB Company Profile

SLB, formerly known as Schlumberger, is a global energy technology company that provides products, services and digital solutions to the oil and gas industry. Its offerings support the exploration, development and production of hydrocarbon resources across the life cycle of an oil or gas field.

The company provides reservoir characterization, drilling and well-construction services, well completion and production technologies, and equipment for subsea and surface operations. SLB also develops software, data and automation solutions designed to help energy companies improve operational efficiency, manage reservoirs and reduce emissions.

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