Selling Buzz: Schlumberger Limited [SLB] 10% Owner SCHLUMBERGER LIMITED/NV sells 12,367,500 shares of the company


Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Schlumberger Limited shares valued at $189,593,775 were sold by SCHLUMBERGER LIMITED/NV on Oct 24. At $15.33 per share, SCHLUMBERGER LIMITED/NV sold 12,367,500 shares. The insider’s holdings dropped to 10,701,961 shares worth approximately $554.36 million following the completion of this transaction.

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Also, SCHLUMBERGER LIMITED/NV sold 12,032,500 shares, netting a total of over 204,552,500 in proceeds. Following the sale of shares at $17.00 each, the insider now holds 23,069,461 shares.

Before that, Rennick Gavin had sold 10,759 shares from its account. In a trade valued at $502,424, the President New Energy traded Schlumberger Limited shares for $46.70 each. Upon closing the transaction, the insider’s holdings decreased to 10,759 shares, worth approximately $1.97 million.

As published in their initiating research note from Jefferies on October 19, 2022, Schlumberger Limited [SLB] has been a Buy and the price target has been revised to $59. This represents a 12.2% premium over Thursday’s closing price. As of July 27, 2022, The Benchmark Company has increased its “Hold” rating to a “Buy” for SLB. Earlier on April 27, 2022, HSBC Securities upgraded its rating. Their new recommendation was “a Buy” for SLB stock which previously was a “a Hold”.

Analyzing SLB Stock Performance

On Thursday, Schlumberger Limited [NYSE: SLB] rose 1.29% to $51.80. The stock’s lowest price that day was $50.50, but it reached a high of $52.13 in the same session. During the last five days, there has been a surge of approximately 0.23%. Over the course of the year, Schlumberger Limited shares have jumped approximately 72.95%. Shares of the company reached a 52-week high of $53.89 on 10/26/22 and a 52-week low of $29.98 on 01/03/22. A 50-day SMA is recorded $41.88, while a 200-day SMA reached $40.11. Nevertheless, trading volume fell to 15.76 million shares from 11.89 million shares the previous day.

Support And Resistance Levels for Schlumberger Limited (SLB)

According to the 24-hour chart, there is a support level at 50.82, which, if violated, would cause prices to drop to 49.85. In the upper region, resistance lies at 52.45. The next price resistance is at 53.11. RSI (Relative Strength Index) is 69.77 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.98, which suggests the price will increase in the coming days. Percent R is at 17.89%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Schlumberger Limited subject to short interest?

Stocks of Schlumberger Limited saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.99 million shares to 25.25 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 26.24 million shares. A decline of -3.92% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 1.55 of the overall float, the days-to-cover ratio (short ratio) decline to 1.55.

Which companies own the most shares of Schlumberger Limited (SLB)?

According to The Vanguard Group, Inc. filings, the company currently owns 116,360,005 shares, which is about 8.23% of the total SLB shares outstanding. The investor’s shares have appreciated by 395,113 from its previous 13-F filing of 115964892.0 shares. With the completion of the sale transaction, SSgA Funds Management, Inc.’s stake is now worth $3,220,523,339. BlackRock Fund Advisors reduced a -1.94% interest valued at $2.6 billion while Norges Bank Investment Management purchased a 18,381,778 stake. A total of -1,391,421 shares of Schlumberger Limited were bought by Dodge & Cox during the quarter, and 9,727,042 were bought by Fidelity Management & Research Co. In its current portfolio, Jennison Associates LLC holds 28,917,488 shares valued at $1.04 billion.

In terms of Schlumberger Limited share price expectations, FactSet research, analysts set an average price target of $56.80 in the next 12 months, up nearly 14.39% from the previous closing price of $51.14. Analysts anticipate Schlumberger Limited stock to reach $69.00 by 2022, with the lowest price target being $46.00. In spite of this, 30 analysts ranked Schlumberger Limited stock as a Buy at the end of 2022. On April 11, 2022, Piper Sandler assigned a price target of “an Overweight” to the stock and upgraded coverage with a $55.


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