The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Schlumberger Ltd. shares valued at $2,499,397 were sold by Biguet Stephane on Jul 22 ’24. At $49.94 per share, Biguet Stephane sold 50,048 shares. The insider’s holdings dropped to 203,076 shares worth approximately $8.37 million following the completion of this transaction.
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Also, Al Mogharbel Khaled sold 120,668 shares, netting a total of over 6,056,484 in proceeds. Following the sale of shares at $50.19 each, the insider now holds 247,699 shares.
Before that, Kasibhatla Vijay had sold 10,000 shares from its account. In a trade valued at $492,900, the Director, M&A traded Schlumberger Ltd. shares for $49.29 each. Upon closing the transaction, the insider’s holdings decreased to 10,000 shares, worth approximately $2.57 million.
As published in a research note from TD Cowen on July 22, 2024, Schlumberger Ltd. [SLB] has been retained to a Buy and the price target has been revised to $64. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in late April. As of April 22, 2024, TD Cowen has reiterated its “Buy” rating for SLB. Earlier on October 09, 2023, Societe Generale initiated its rating. Their recommendation was “a Buy” for SLB stock.
Analyzing SLB Stock Performance
During the last five days, there has been a drop of approximately -5.76%. Over the course of the year, Schlumberger Ltd. shares have dropped approximately -20.79%. Shares of the company reached a 52-week high of $55.69 on 03/28/24 and a 52-week low of $40.96 on 09/05/24. A 50-day SMA is recorded $45.76, while a 200-day SMA reached $48.82. Nevertheless, trading volume fell to 10.61 million shares from 10.03 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 40.85, which, if violated, would cause prices to drop to 40.49. In the upper region, resistance lies at 41.69. The next price resistance is at 42.17. RSI (Relative Strength Index) is 31.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.32, which suggests the price will decrease in the coming days. Percent R is at 95.00%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
