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

Schlumberger Limited (NYSE:SLB - Get Free Report) announced a quarterly dividend on Friday, July 18th, RTT News reports. Investors of record on Wednesday, September 3rd will be given a dividend of 0.285 per share by the oil and gas company on Thursday, October 9th. This represents a $1.14 annualized dividend and a yield of 3.42%.

Schlumberger has a dividend payout ratio of 33.5% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Stock Performance

Schlumberger stock traded down $1.30 during midday trading on Friday, hitting $33.37. 35,360,423 shares of the company's stock were exchanged, compared to its average volume of 14,309,632. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.93 and a current ratio of 1.24. The stock has a market cap of $45.39 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 9.32 and a beta of 1.01. Schlumberger has a 12-month low of $31.11 and a 12-month high of $50.94. The firm's 50 day simple moving average is $34.88 and its 200 day simple moving average is $37.56.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.73 by $0.01. Schlumberger had a return on equity of 21.76% and a net margin of 11.62%. The business had revenue of $8.55 billion during the quarter, compared to analysts' expectations of $8.51 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The company's quarterly revenue was down 6.5% compared to the same quarter last year. Equities research analysts predict that Schlumberger will post 3.38 EPS for the current year.

Insiders Place Their Bets

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the sale, the director owned 23,525 shares of the company's stock, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Institutional Trading of Schlumberger

A hedge fund recently bought a new stake in Schlumberger stock. Bison Wealth LLC bought a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 6,216 shares of the oil and gas company's stock, valued at approximately $238,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Barclays lowered their price target on shares of Schlumberger from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Thursday, July 10th. Susquehanna reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set a "positive" rating on the stock in a report on Tuesday, July 1st. Jefferies Financial Group cut their price objective on shares of Schlumberger from $54.00 to $53.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Piper Sandler lowered their price objective on Schlumberger from $44.00 to $42.00 and set a "neutral" rating for the company in a report on Friday. Finally, Atb Cap Markets raised Schlumberger from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 1st. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.56.

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.