Outlook Wealth Advisors LLC Invests $587,000 in SLB Limited $SLB

Outlook Wealth Advisors LLC bought a new position in shares of SLB Limited (NYSE:SLB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,069 shares of the oil and gas company’s stock, valued at approximately $587,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of SLB by 21.4% during the fourth quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after buying an additional 1,166 shares during the last quarter. Bison Wealth LLC bought a new stake in SLB in the 4th quarter worth about $238,000. Norden Group LLC purchased a new stake in SLB in the 2nd quarter valued at about $203,000. Old North State Wealth Management LLC lifted its position in shares of SLB by 24.1% during the 2nd quarter. Old North State Wealth Management LLC now owns 9,204 shares of the oil and gas company’s stock worth $311,000 after buying an additional 1,785 shares in the last quarter. Finally, Randolph Co Inc purchased a new position in shares of SLB in the 2nd quarter worth approximately $27,622,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at SLB

In other news, Director Peter John Coleman sold 5,500 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $35.82, for a total value of $197,010.00. Following the sale, the director directly owned 18,671 shares in the company, valued at $668,795.22. The trade was a 22.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of SLB stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $37.69, for a total transaction of $2,261,400.00. Following the sale, the executive vice president directly owned 159,371 shares of the company’s stock, valued at $6,006,692.99. This represents a 27.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 103,947 shares of company stock valued at $3,871,337. Company insiders own 0.22% of the company’s stock.

SLB Stock Performance

Shares of SLB opened at $48.46 on Thursday. SLB Limited has a 12 month low of $31.11 and a 12 month high of $48.61. The business’s fifty day simple moving average is $39.64 and its two-hundred day simple moving average is $36.52. The company has a market cap of $72.40 billion, a price-to-earnings ratio of 18.71 and a beta of 0.72. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.40.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SLB. The Goldman Sachs Group restated a “buy” rating and set a $49.00 price target on shares of SLB in a research report on Wednesday, January 14th. Susquehanna lifted their target price on shares of SLB from $42.00 to $52.00 and gave the stock a “positive” rating in a research note on Wednesday, January 7th. Rothschild Redb upgraded SLB to a “strong-buy” rating in a research note on Monday, November 3rd. Redburn Partners set a $48.00 price objective on SLB in a research report on Monday, November 3rd. Finally, Piper Sandler boosted their price target on shares of SLB from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Thursday, December 18th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.84.

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.