SLB Limited (SLB) to Issue Quarterly Dividend of $0.30 on July 9th

SLB Limited (NYSE:SLB) announced a quarterly dividend on Thursday, April 23rd. Investors of record on Wednesday, June 3rd will be paid 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 dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, June 3rd.

SLB has increased its dividend by an average of 0.1%per year over the last three years and has increased its dividend annually for the last 5 consecutive years. SLB has a dividend payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect SLB to earn $3.41 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 34.6%.

SLB Price Performance

SLB stock opened at $54.44 on Monday. The firm has a market cap of $81.39 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 2.21 and a beta of 0.70. The company has a quick ratio of 0.98, a current ratio of 1.34 and a debt-to-equity ratio of 0.35. SLB has a 12-month low of $31.64 and a 12-month high of $58.82. The company’s fifty day simple moving average is $53.52 and its 200 day simple moving average is $47.19.

SLB (NYSE:SLB) last released its earnings results on Saturday, April 25th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. The business had revenue of $8.72 billion for the quarter, compared to analyst estimates of $8.76 billion. SLB had a net margin of 9.26% and a return on equity of 15.54%. SLB’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, analysts expect that SLB will post 2.62 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Evercore restated an “outperform” rating and issued a $64.00 target price on shares of SLB in a report on Monday, April 27th. Stifel Nicolaus boosted their target price on shares of SLB from $56.00 to $61.00 and gave the company a “buy” rating in a report on Monday, April 27th. TD Cowen boosted their target price on shares of SLB from $55.00 to $66.00 and gave the company a “buy” rating in a report on Monday, April 27th. BMO Capital Markets boosted their target price on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a report on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their target price on shares of SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Three research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $59.74.

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.