SLB Limited (NYSE:SLB) Declares Quarterly Dividend of $0.29

SLB Limited (NYSE:SLB) declared 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 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 increased its dividend every year for the last 5 years. SLB has a dividend payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of SLB stock traded up $3.48 on Friday, reaching $53.03. 19,048,477 shares of the company were exchanged, compared to its average volume of 15,859,033. SLB has a 1 year low of $34.65 and a 1 year high of $60.46. The business has a 50-day moving average price of $52.58 and a 200 day moving average price of $52.15. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.05 and a current ratio of 1.44. The company has a market cap of $78.71 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 2.82 and a beta of 0.83.

SLB (NYSE:SLB) last released its earnings results on Friday, October 23rd. The oil and gas company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.02. SLB had a return on equity of 14.05% and a net margin of 8.53%. The business had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter last year, the business posted $0.69 earnings per share. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. Equities research analysts forecast that SLB will post 2.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently commented on SLB. Sanford C. Bernstein reiterated an “outperform” rating on shares of SLB in a research report on Tuesday, September 1st. JPMorgan Chase & Co. boosted their price target on shares of SLB from $61.00 to $62.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SLB in a research note on Monday, August 3rd. Wolfe Research started coverage on SLB in a report on Wednesday, July 8th. They issued an “outperform” rating and a $62.00 price objective on the stock. Finally, Zacks Research raised SLB from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Twenty-four research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, SLB presently has a consensus rating of “Moderate Buy” and an average target price 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.