Schlumberger Ltd.’s filing revealed that 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 $12.95 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 $3.84 million.
TD Cowen reiterated its Schlumberger Ltd. [SLB] rating to a Buy in a research note published on April 22, 2024; the price target was $63. A number of analysts have revised their coverage, including Societe Generale’s analysts, who began to cover the stock in early October with a ‘”a Buy”‘ rating. CapitalOne began covering SLB with “an Overweight” recommendation on June 07, 2023. UBS revised its rating on April 19, 2023. It rated SLB as “a Buy” which previously was an “a Neutral”.
Price Performance Review of SLB
On Monday, Schlumberger Ltd. [NYSE:SLB] saw its stock fall -0.68% to $49.51. Over the last five days, the stock has lost -4.18%. Schlumberger Ltd. shares have fallen nearly -4.86% since the year began. Nevertheless, the stocks have fallen -4.73% 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 $51.48, while 200 days put it at $54.26. A total of 10.76 million shares were traded, compared to the trading of 16.84 million shares in the previous session.
Levels Of Support And Resistance For SLB Stock
The 24-hour chart illustrates a support level at 48.79, which if violated will result in even more drops to 48.07. On the upside, there is a resistance level at 50.14. A further resistance level may holdings at 50.76. The Relative Strength Index (RSI) on the 14-day chart is 29.38, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -2.53, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 88.34%. Stochastics %K at 9.74% indicates the stock is a buying.
The most recent change occurred on January 23, 2023 when Susquehanna resumed its ‘”a Positive”‘ rating for the stock and retained the price target to $68.
