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Insider Selling: Rando Bejar Carmen, Schlumberger Ltd. [SLB] Chief People Officer divested 4,980 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Schlumberger Ltd. shares valued at $216,281 were sold by Rando Bejar Carmen on Jun 07 ’24. At $43.43 per share, Rando Bejar Carmen sold 4,980 shares. The insider’s holdings dropped to 22,518 shares worth approximately $1.07 million following the completion of this transaction.

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Also, Rennick Gavin sold 38,083 shares, netting a total of over 1,838,647 in proceeds. Following the sale of shares at $48.28 each, the insider now holds 45,851 shares.

Before that, Pafitis Demosthenis had sold 63,095 shares from its account. In a trade valued at $3,044,965, the Chief Technology Officer traded Schlumberger Ltd. shares for $48.26 each. Upon closing the transaction, the insider’s holdings decreased to 63,095 shares, worth approximately $1.58 million.

As published in a research note from Wells Fargo on April 29, 2024, Schlumberger Ltd. [SLB] has been rated down from an Overweight to an Equal weight and the price target has been revised to $53 from $68. Analysts at TD Cowen resumed the stock at ‘”a Buy”‘ outlook in a report released in late April. As of October 09, 2023, Societe Generale has initiated its “Buy” rating for SLB. Earlier on June 07, 2023, CapitalOne initiated its rating. Their recommendation was “an Overweight” for SLB stock.

Analyzing SLB Stock Performance

During the last five days, there has been a surge of approximately 2.42%. Over the course of the year, Schlumberger Ltd. shares have dropped approximately -9.01%. Shares of the company reached a 52-week high of $55.69 on 03/28/24 and a 52-week low of $42.61 on 06/14/24. A 50-day SMA is recorded $46.70, while a 200-day SMA reached $51.40. Nevertheless, trading volume fell to 6.66 million shares from 7.93 million shares the previous day.

Support And Resistance Levels for Schlumberger Ltd. (SLB)

According to the 24-hour chart, there is a support level at 46.97, which, if violated, would cause prices to drop to 46.62. In the upper region, resistance lies at 47.60. The next price resistance is at 47.88. RSI (Relative Strength Index) is 57.30 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.00, which suggests the price will increase in the coming days. Percent R is at 7.11%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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