Schlumberger Limited (NYSE:SLB) Plans Quarterly Dividend of $0.29

Schlumberger Limited (NYSE:SLB - Get Free Report) announced a quarterly dividend on Monday, April 28th, Wall Street Journal reports. Stockholders of record on Wednesday, June 4th will be paid a dividend of 0.285 per share by the oil and gas company on Thursday, July 10th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Wednesday, June 4th.

Schlumberger has increased its dividend payment by an average of 30.1% annually over the last three years. Schlumberger has a payout ratio of 33.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Schlumberger to earn $3.58 per share next year, which means the company should continue to be able to cover its $1.14 annual dividend with an expected future payout ratio of 31.8%.

Schlumberger Trading Up 1.9 %

SLB stock traded up $0.63 during midday trading on Friday, reaching $34.37. 3,104,826 shares of the company's stock traded hands, compared to its average volume of 13,254,174. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The business has a 50-day moving average price of $37.95 and a two-hundred day moving average price of $40.12. The company has a market capitalization of $46.74 billion, a P/E ratio of 11.04, a PEG ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $8.49 billion during the quarter, compared to analysts' expectations of $8.64 billion. During the same quarter in the prior year, the company earned $0.75 EPS. The firm's revenue was down 2.5% compared to the same quarter last year. Equities research analysts forecast that Schlumberger will post 3.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. This represents a 44.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the business's stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares of the company's stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Institutional Investors Weigh In On Schlumberger

An institutional investor recently raised its position in Schlumberger stock. Brighton Jones LLC raised its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 21.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,611 shares of the oil and gas company's stock after acquiring an additional 1,166 shares during the period. Brighton Jones LLC's holdings in Schlumberger were worth $253,000 as of its most recent SEC filing. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays dropped their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Susquehanna cut their target price on Schlumberger from $48.00 to $46.00 and set a "positive" rating on the stock in a research report on Monday. BMO Capital Markets decreased their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Jefferies Financial Group cut their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Thursday, March 27th. Finally, Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and reduced their price objective for the company from $46.00 to $44.00 in a research note on Tuesday, April 8th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.32.

Schlumberger Company Profile

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.