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

SLB Limited (NYSE:SLB) declared a quarterly dividend on Thursday, July 23rd. Investors 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 2.1%. The ex-dividend date is Wednesday, September 2nd.

SLB has increased 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 payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 0.1%

Shares of NYSE SLB opened at $57.40 on Monday. The firm’s 50-day moving average is $49.70 and its 200-day moving average is $51.41. The company has a current ratio of 1.44, a quick ratio of 1.05 and a debt-to-equity ratio of 0.41. SLB has a 1 year low of $31.64 and a 1 year high of $58.82. The firm has a market capitalization of $85.19 billion, a PE ratio of 27.73, a price-to-earnings-growth ratio of 3.78 and a beta of 0.73.

SLB (NYSE:SLB) last posted its quarterly earnings results on Saturday, July 25th. The oil and gas company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.04. SLB had a return on equity of 14.05% and a net margin of 8.53%.The business had revenue of $8.97 billion for the quarter, compared to analyst estimates of $8.67 billion. During the same period last year, the company earned $0.74 EPS. The firm’s revenue was up 5.0% on a year-over-year basis. Equities analysts expect that SLB will post 2.5 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SLB shares. Susquehanna lifted their price target on shares of SLB from $55.00 to $62.00 and gave the stock a “positive” rating in a research report on Monday, July 27th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $61.00 price target on shares of SLB in a research report on Tuesday, June 16th. Barclays boosted their price objective on SLB from $64.00 to $67.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. TD Cowen lifted their price target on shares of SLB from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, Evercore reaffirmed an “outperform” rating and issued a $66.00 price objective on shares of SLB in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.35.

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.