Allstate Corp Invests $1.92 Million in SLB Limited $SLB

Allstate Corp acquired a new position in shares of SLB Limited (NYSE:SLB) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 55,792 shares of the oil and gas company’s stock, valued at approximately $1,918,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLB. Twin Peaks Wealth Advisors LLC bought a new stake in SLB during the 2nd quarter valued at approximately $25,000. Corsicana & Co. acquired a new position in shares of SLB during the third quarter worth approximately $31,000. NewSquare Capital LLC boosted its position in shares of SLB by 51.4% in the second quarter. NewSquare Capital LLC now owns 1,004 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 341 shares during the period. Kennebec Savings Bank grew its stake in shares of SLB by 47.4% in the third quarter. Kennebec Savings Bank now owns 1,390 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 447 shares during the last quarter. Finally, Rise Advisors LLC raised its stake in SLB by 63.9% during the 3rd quarter. Rise Advisors LLC now owns 1,421 shares of the oil and gas company’s stock valued at $49,000 after purchasing an additional 554 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

SLB Stock Down 0.6%

NYSE:SLB opened at $46.47 on Wednesday. SLB Limited has a 12-month low of $31.11 and a 12-month high of $47.72. The stock’s fifty day simple moving average is $39.40 and its 200-day simple moving average is $36.43. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $69.42 billion, a P/E ratio of 17.94 and a beta of 0.72.

Insider Activity

In related news, 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 transaction of $2,261,400.00. Following the sale, the executive vice president owned 159,371 shares of the company’s stock, valued at approximately $6,006,692.99. This trade represents a 27.35% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Stephane Biguet sold 38,447 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $36.75, for a total value of $1,412,927.25. Following the sale, the chief financial officer directly owned 175,690 shares in the company, valued at approximately $6,456,607.50. This represents a 17.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 103,947 shares of company stock valued at $3,871,337 in the last ninety days. 0.22% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on SLB shares. Rothschild Redb raised shares of SLB to a “strong-buy” rating in a report on Monday, November 3rd. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $51.00 price objective on shares of SLB in a report on Thursday, January 15th. Susquehanna boosted 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. Citigroup upped their price objective on SLB from $47.00 to $53.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Finally, Barclays decreased their price objective on SLB from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.17.

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.