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

SLB Limited (NYSE:SLB) announced a quarterly dividend on Thursday, July 23rd. Shareholders 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 yield of 2.3%. The ex-dividend date 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 annually for the last 5 consecutive years. SLB has a dividend payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Research 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 Up 11.0%

NYSE SLB opened at $52.43 on Friday. The business has a fifty day moving average price of $51.16 and a two-hundred day moving average price of $50.55. The stock has a market capitalization of $78.39 billion, a PE ratio of 22.90, a PEG ratio of 1.91 and a beta of 0.72. SLB has a fifty-two week low of $31.64 and a fifty-two week high of $58.82. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 0.98.

SLB (NYSE:SLB) last issued its quarterly earnings results on Friday, July 24th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 15.54% and a net margin of 9.26%.The company had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same quarter last year, the company posted $0.74 EPS. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. Equities analysts expect that SLB will post 2.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on SLB. Barclays reduced their price objective on SLB from $66.00 to $64.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Raymond James Financial lowered their target price on SLB from $62.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, July 10th. BMO Capital Markets raised their price target on shares of SLB from $55.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday, April 27th. Sanford C. Bernstein lifted their price target on shares of SLB from $56.10 to $71.00 and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Evercore reiterated an “outperform” rating and set a $64.00 price objective on shares of SLB in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.30.

About SLB

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.