SLB Limited (NYSE:SLB – Get Free Report) declared a quarterly dividend on Thursday, July 23rd. Stockholders of record on Wednesday, September 2nd will be given a dividend of 0.295 per share by the oil and gas company on Thursday, October 8th. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Wednesday, September 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 $3.33 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 35.4%.
SLB Stock Performance
Shares of NYSE:SLB traded up $5.21 during midday trading on Friday, reaching $52.43. 28,892,755 shares of the company’s stock traded hands, compared to its average volume of 17,391,477. The company has a market cap of $78.39 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 1.93 and a beta of 0.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.98 and a current ratio of 1.34. SLB has a one year low of $31.64 and a one year high of $58.82. The stock has a 50 day moving average of $51.22 and a 200 day moving average of $50.54.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on SLB shares. Jefferies Financial Group restated a “buy” rating and issued a $65.00 target price on shares of SLB in a report on Sunday, April 26th. Morgan Stanley reiterated an “overweight” rating and set a $54.00 target price on shares of SLB in a research note on Wednesday, July 15th. JPMorgan Chase & Co. increased their price target on SLB from $54.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Evercore restated an “outperform” rating and issued a $64.00 price target on shares of SLB in a research note on Monday, April 27th. Finally, Raymond James Financial reduced their price objective on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SLB currently has an average rating of “Moderate Buy” and an average target price of $60.30.
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.
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