SLB Limited (SLB) To Go Ex-Dividend on December 2nd

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

SLB has raised its dividend payment 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 dividend payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Up 7.0%

Shares of SLB stock traded up $3.48 during trading hours on Friday, reaching $53.03. The company had a trading volume of 19,048,477 shares, compared to its average volume of 12,320,222. The company has a market capitalization of $78.71 billion, a P/E ratio of 25.62, a price-to-earnings-growth ratio of 2.73 and a beta of 0.83. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. SLB has a twelve month low of $34.65 and a twelve month high of $60.46. The stock’s fifty day simple moving average is $52.57 and its 200 day simple moving average is $52.15.

SLB (NYSE:SLB) last released its quarterly earnings results 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 analyst estimates of $9.27 billion. SLB had a return on equity of 14.05% and a net margin of 8.53%. SLB’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. As a group, sell-side analysts expect that SLB will post 2.47 earnings per share for the current fiscal year.

Hedge Funds Weigh In On SLB

A number of institutional investors have recently made changes to their positions in SLB. Bank of New York Mellon Corp bought a new stake in shares of SLB in the 2nd quarter worth approximately $1,339,567,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in SLB by 6,358.2% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,134,731 shares of the oil and gas company’s stock valued at $471,164,000 after purchasing an additional 9,977,804 shares during the last quarter. Cardano Risk Management B.V. bought a new stake in SLB during the second quarter worth approximately $185,474,000. Canoe Financial LP boosted its holdings in SLB by 82.3% during the second quarter. Canoe Financial LP now owns 7,730,966 shares of the oil and gas company’s stock worth $358,936,000 after buying an additional 3,489,344 shares in the last quarter. Finally, Danske Bank A S grew its position in SLB by 2,928.3% in the second quarter. Danske Bank A S now owns 2,825,743 shares of the oil and gas company’s stock worth $131,369,000 after buying an additional 2,732,433 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

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.