Outlook Wealth Advisors LLC Acquires New Position in SLB Limited $SLB

Outlook Wealth Advisors LLC acquired a new stake in SLB Limited (NYSE:SLB) during the third quarter, Holdings Channel reports. The institutional investor acquired 17,069 shares of the oil and gas company’s stock, valued at approximately $587,000.

Several other large investors have also made changes to their positions in SLB. Vanguard Group Inc. boosted its holdings in SLB by 14.2% in the second quarter. Vanguard Group Inc. now owns 150,317,566 shares of the oil and gas company’s stock valued at $5,080,734,000 after purchasing an additional 18,672,021 shares during the last quarter. Franklin Resources Inc. lifted its holdings in SLB by 30.4% in the 2nd quarter. Franklin Resources Inc. now owns 20,233,749 shares of the oil and gas company’s stock valued at $683,901,000 after purchasing an additional 4,719,852 shares in the last quarter. Norges Bank purchased a new stake in SLB during the 2nd quarter valued at about $618,697,000. Amundi lifted its position in SLB by 29.9% during the second quarter. Amundi now owns 11,415,740 shares of the oil and gas company’s stock worth $409,939,000 after buying an additional 2,624,679 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of SLB by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 9,681,754 shares of the oil and gas company’s stock valued at $327,243,000 after acquiring an additional 114,190 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Morgan Stanley reaffirmed an “overweight” rating and issued a $50.00 price target on shares of SLB in a research note on Wednesday. Piper Sandler upped their price target on SLB from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Thursday, December 18th. UBS Group boosted their price target on shares of SLB from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, December 12th. Stifel Nicolaus boosted their target price on SLB from $48.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Evercore ISI set a $54.00 price target on SLB and gave the stock an “outperform” rating in a research note on Tuesday, January 6th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.84.

Insider Activity

In related news, Director Peter John Coleman sold 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $35.82, for a total value of $197,010.00. Following the sale, the director owned 18,671 shares of the company’s stock, valued at approximately $668,795.22. This represents a 22.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $37.69, for a total value of $2,261,400.00. Following the transaction, the executive vice president directly owned 159,371 shares of the company’s stock, valued at $6,006,692.99. The trade was a 27.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 103,947 shares of company stock worth $3,871,337 over the last ninety days. 0.22% of the stock is currently owned by insiders.

SLB Price Performance

Shares of NYSE SLB opened at $48.46 on Thursday. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40. The stock has a market cap of $72.40 billion, a price-to-earnings ratio of 18.71 and a beta of 0.72. The company’s 50-day moving average price is $39.64 and its 200 day moving average price is $36.52. SLB Limited has a 52 week low of $31.11 and a 52 week high of $48.61.

SLB Profile

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.