Schlumberger Limited. (NYSE:SLB) announced a quarterly dividend on Wednesday, October 18th, NASDAQ reports. Stockholders of record on Wednesday, December 6th will be paid a dividend of 0.50 per share by the oil and gas company on Friday, January 12th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend is Tuesday, December 5th.
Schlumberger has raised its dividend payment by an average of 18.2% annually over the last three years and has raised its dividend every year for the last 6 years. Schlumberger has a dividend payout ratio of 136.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Schlumberger to earn $2.13 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 93.9%.
Shares of Schlumberger (NYSE SLB) opened at $64.73 on Monday. The stock has a market capitalization of $89,668.01, a PE ratio of 50.18, a PEG ratio of 1.98 and a beta of 1.01. The company has a current ratio of 1.53, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. Schlumberger has a 12-month low of $61.02 and a 12-month high of $87.84.
In other Schlumberger news, Director Tore I. Sandvold sold 3,500 shares of Schlumberger stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $62.63, for a total value of $219,205.00. Following the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $93,945. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in SLB. Rafferty Asset Management LLC increased its stake in shares of Schlumberger by 9.0% during the second quarter. Rafferty Asset Management LLC now owns 11,891 shares of the oil and gas company’s stock valued at $783,000 after buying an additional 983 shares during the period. Isthmus Partners LLC increased its stake in shares of Schlumberger by 1.4% during the second quarter. Isthmus Partners LLC now owns 92,291 shares of the oil and gas company’s stock valued at $6,076,000 after buying an additional 1,246 shares during the period. Pathstone Family Office LLC increased its stake in shares of Schlumberger by 73.3% during the second quarter. Pathstone Family Office LLC now owns 5,035 shares of the oil and gas company’s stock valued at $4,410,000 after buying an additional 2,129 shares during the period. Tetrem Capital Management Ltd. increased its stake in shares of Schlumberger by 3.4% during the second quarter. Tetrem Capital Management Ltd. now owns 838,598 shares of the oil and gas company’s stock valued at $55,213,000 after buying an additional 27,657 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Schlumberger by 4.0% during the second quarter. UBS Asset Management Americas Inc. now owns 4,048,285 shares of the oil and gas company’s stock valued at $266,539,000 after buying an additional 154,718 shares during the period. 79.77% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently weighed in on SLB shares. Argus started coverage on Schlumberger in a research report on Monday, August 21st. They issued a “buy” rating for the company. BidaskClub downgraded Schlumberger from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 16th. Barclays set a $70.00 target price on Schlumberger and gave the stock a “hold” rating in a research report on Wednesday, October 25th. SunTrust Banks restated a “hold” rating on shares of Schlumberger in a research report on Tuesday, October 31st. Finally, Citigroup boosted their target price on Schlumberger from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, October 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. Schlumberger has an average rating of “Buy” and a consensus target price of $79.31.
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Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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