An Analysis of Schlumberger Ltd. (SLB)’s Potential Price Growth

Schlumberger Ltd.’s recently made public that its President New Energy Rennick Gavin unloaded Company’s shares for reported $0.98 million on Feb 01. In the deal valued at $48.77 per share,20,045 shares were sold. As a result of this transaction, Rennick Gavin now holds 77,563 shares worth roughly $3.73 million.

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Then, Beumelburg Katharina sold 8,000 shares, generating $421,000 in total proceeds. Upon selling the shares at $52.62, the Chief Sustainability Officer now owns 15,581 shares.

Before that, Biguet Stephane sold 6,250 shares. Schlumberger Ltd. shares valued at $329,875 were divested by the EVP & CFO at a price of $52.78 per share. As a result of the transaction, Biguet Stephane now holds 249,182 shares, worth roughly $12.0 million.

Societe Generale initiated its Schlumberger Ltd. [SLB] rating to a Buy in a research note published on Monday, October 09, 2023; the price target was $81.

Price Performance Review of SLB

On Monday, Schlumberger Ltd. [NYSE:SLB] saw its stock jump 2.25% to $48.14. Over the last five days, the stock has lost -0.84%. Schlumberger Ltd. shares have fallen nearly -7.49% since the year began. Nevertheless, the stocks have fallen -10.59% over the past one year. While a 52-week high of $62.12 was reached on 01/04/24, a 52-week low of $42.73 was recorded on 02/09/24. SMA at 50 days reached $50.46, while 200 days put it at $53.05. A total of 12.37 million shares were traded, compared to the trading of 8.26 million shares in the previous session.

Levels Of Support And Resistance For SLB Stock

The 24-hour chart illustrates a support level at 47.53, which if violated will result in even more drops to 46.93. On the upside, there is a resistance level at 48.68. A further resistance level may holdings at 49.23. The Relative Strength Index (RSI) on the 14-day chart is 42.52, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.85, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.55%. Stochastics %K at 11.13% indicates the stock is a buying.

How much short interest is there in Schlumberger Ltd.?

A steep rise in short interest was recorded in Schlumberger Ltd. stocks on Jan 31, 2024, dropping by -0.35 million shares to a total of 17.88 million shares. Yahoo Finance data shows the prior-month short interest on Dec 29, 2023 was 18.23 million shares. There was a decline of -1.96%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.25% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.18.

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