In a filing, Schlumberger Ltd. revealed its EVP, Core Services & Equipment Merad Abdellah unloaded Company’s shares for reported $2.43 million on Feb 26 ’24. In the deal valued at $48.52 per share,50,000 shares were sold. As a result of this transaction, Merad Abdellah now holds 261,507 shares worth roughly $14.13 million.
Then, Biguet Stephane sold 6,250 shares, generating $304,000 in total proceeds. Upon selling the shares at $48.64, the EVP & CFO now owns 242,932 shares.
Before that, Rennick Gavin sold 20,045 shares. Schlumberger Ltd. shares valued at $977,494 were divested by the President New Energy at a price of $48.77 per share. As a result of the transaction, Rennick Gavin now holds 77,563 shares, worth roughly $4.19 million.
Societe Generale initiated its Schlumberger Ltd. [SLB] rating to a Buy in a research note published on October 09, 2023; the price target was $81. A number of analysts have revised their coverage, including CapitalOne’s analysts, who began to cover the stock in early June with a ‘”an Overweight”‘ rating. UBS also remained covering SLB and has increased its forecast on April 19, 2023 with a “Buy” recommendation from previously “Neutral” rating. Susquehanna maintained its rating on January 23, 2023. It rated SLB as “a Positive”.
Price Performance Review of SLB
On Monday, Schlumberger Ltd. [NYSE:SLB] saw its stock fall -1.80% to $54.04. Over the last five days, the stock has lost -2.14%. Schlumberger Ltd. shares have risen nearly 3.84% since the year began. Nevertheless, the stocks have risen 6.59% over the past one year. While a 52-week high of $62.12 was reached on 03/28/24, a 52-week low of $42.73 was recorded on 02/09/24. SMA at 50 days reached $50.99, while 200 days put it at $54.08. A total of 8.97 million shares were traded, compared to the trading of 2.51 million shares in the previous session.
Levels Of Support And Resistance For SLB Stock
The 24-hour chart illustrates a support level at 53.45, which if violated will result in even more drops to 52.86. On the upside, there is a resistance level at 55.14. A further resistance level may holdings at 56.24. The Relative Strength Index (RSI) on the 14-day chart is 56.91, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.09, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 65.61%. Stochastics %K at 54.94% indicates the stock is a holding.
How much short interest is there in Schlumberger Ltd.?
A steep rise in short interest was recorded in Schlumberger Ltd. stocks on Mar 15, 2024, growing by 2.77 million shares to a total of 21.11 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 18.34 million shares. There was a rise of 13.12%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.48% of the overall stock float, the days-to-cover ratio (short ratio) rose to 2.41.
The most recent change occurred on January 19, 2023 when The Benchmark Company began covering the stock and recommended ‘”a Buy”‘ rating along with a $65 price target.
