Schlumberger (SLB) Declares $0.25 Dividend

Schlumberger said on April 20, 2023 that its board of directors declared a regular quarterly dividend of $0.25 per share ($1.00 annualized). Previously, the company paid $0.25 per share.

Shares must be purchased before the ex-div date of June 6, 2023 to qualify for the dividend. Shareholders of record as of June 7, 2023 will receive the payment on July 13, 2023.

At the current share price of $49.80 / share, the stock's dividend yield is 2.01%. Looking back five years and taking a sample every week, the average dividend yield has been 3.23%, the lowest has been 1.14%, and the highest has been 15.59%. The standard deviation of yields is 2.26 (n=237).

The current dividend yield is 0.54 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.41. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 1.00%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 2455 funds or institutions reporting positions in Schlumberger. This is an increase of 214 owner(s) or 9.55% in the last quarter. Average portfolio weight of all funds dedicated to SLB is 0.56%, an increase of 8.87%. Total shares owned by institutions decreased in the last three months by 0.01% to 1,354,334K shares. The put/call ratio of SLB is 0.84, indicating a bullish outlook.

Analyst Price Forecast Suggests 31.56% Upside

As of April 6, 2023, the average one-year price target for Schlumberger is $65.52. The forecasts range from a low of $48.48 to a high of $78.75. The average price target represents an increase of 31.56% from its latest reported closing price of $49.80.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Schlumberger is $32,916MM, an increase of 17.18%. The projected annual non-GAAP EPS is $3.02.

What are Other Shareholders Doing?

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 43,096K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 42,162K shares, representing an increase of 2.17%. The firm increased its portfolio allocation in SLB by 40.57% over the last quarter.

Wellington Management Group Llp holds 37,011K shares representing 2.59% ownership of the company. In it's prior filing, the firm reported owning 41,589K shares, representing a decrease of 12.37%. The firm increased its portfolio allocation in SLB by 24.76% over the last quarter.

XLE - The Energy Select Sector SPDR Fund holds 36,551K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 41,322K shares, representing a decrease of 13.05%. The firm increased its portfolio allocation in SLB by 8.41% over the last quarter.

VFINX - Vanguard 500 Index Fund Investor Shares holds 32,780K shares representing 2.30% ownership of the company. In it's prior filing, the firm reported owning 32,062K shares, representing an increase of 2.19%. The firm increased its portfolio allocation in SLB by 40.26% over the last quarter.

First Eagle Investment Management holds 27,506K shares representing 1.93% ownership of the company. In it's prior filing, the firm reported owning 27,050K shares, representing an increase of 1.66%. The firm increased its portfolio allocation in SLB by 38.97% over the last quarter.

SLB Background Information
(This description is provided by the company.)

Schlumberger is the world's leading provider of technology and digital solutions for reservoir characterization, drilling, production, and processing to the energy industry. With product sales and services in more than 120 countries and employing approximately 82,000 people as of the end of third quarter of 2020 who represent over 170 nationalities, Schlumberger supplies the industry's most comprehensive range of products and services, from exploration through production, and integrated pore-to-pipeline solutions that optimize hydrocarbon recovery to deliver reservoir performance sustainably. Schlumberger Limited has executive offices in Paris, Houston, London, and The Hague, and reported revenues of $32.92 billion in 2019.

This story originally appeared on Fintel.