SLB Limited Plans Quarterly Dividend of $0.30 (NYSE:SLB)

SLB Limited (NYSE:SLB) announced a quarterly dividend on Thursday, April 23rd. Stockholders of record on Wednesday, June 3rd will be given a dividend of 0.295 per share by the oil and gas company on Thursday, July 9th. This represents a c) dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, June 3rd.

SLB has increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 5 consecutive years. SLB has a dividend payout ratio of 34.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect SLB to earn $3.38 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 34.9%.

SLB Trading Up 2.7%

SLB stock traded up $1.46 during trading on Friday, hitting $56.20. 23,206,238 shares of the company traded hands, compared to its average volume of 19,957,793. The firm has a market capitalization of $84.44 billion, a PE ratio of 23.71, a P/E/G ratio of 3.73 and a beta of 0.69. SLB has a 1 year low of $31.64 and a 1 year high of $56.90. The company has a 50-day moving average of $50.15 and a 200-day moving average of $43.51. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.98 and a current ratio of 1.33.

SLB (NYSE:SLB) last announced its quarterly earnings results on Friday, April 24th. The oil and gas company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.08). SLB had a net margin of 9.45% and a return on equity of 17.45%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.72 EPS. Analysts predict that SLB will post 2.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SLB news, CAO Howard Guild sold 13,268 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The shares were sold at an average price of $49.70, for a total value of $659,419.60. Following the completion of the sale, the chief accounting officer directly owned 22,407 shares in the company, valued at $1,113,627.90. This trade represents a 37.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director La Chevardiere Patrick De sold 4,000 shares of the business’s stock in a transaction dated Monday, January 26th. The stock was sold at an average price of $50.29, for a total value of $201,160.00. Following the sale, the director owned 19,525 shares in the company, valued at $981,912.25. The trade was a 17.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 156,902 shares of company stock valued at $7,796,666 over the last three months. Corporate insiders own 0.16% of the company’s stock.

Hedge Funds Weigh In On SLB

Several institutional investors and hedge funds have recently modified their holdings of SLB. MV Capital Management Inc. purchased a new stake in shares of SLB during the fourth quarter worth approximately $28,000. Root Financial Partners LLC acquired a new stake in SLB in the 3rd quarter valued at about $29,000. Strategic Wealth Advisors LLC acquired a new stake in SLB in the 4th quarter valued at about $30,000. Strengthening Families & Communities LLC purchased a new position in SLB during the third quarter worth about $31,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in SLB in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

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.