In a filing, Schlumberger Ltd. revealed its EVP & CFO Biguet Stephane unloaded Company’s shares for reported $2.5 million on Jul 22 ’24. In the deal valued at $49.94 per share,50,048 shares were sold. As a result of this transaction, Biguet Stephane now holds 203,076 shares worth roughly $8.62 million.
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Then, Al Mogharbel Khaled sold 120,668 shares, generating $6,056,484 in total proceeds. Upon selling the shares at $50.19, the EVP, Geographies now owns 247,699 shares.
Before that, Kasibhatla Vijay sold 10,000 shares. Schlumberger Ltd. shares valued at $492,900 were divested by the Director, M&A at a price of $49.29 per share. As a result of the transaction, Kasibhatla Vijay now holds 62,354 shares, worth roughly $2.65 million.
TD Cowen reiterated its Schlumberger Ltd. [SLB] rating to a Buy in a research note published on October 21, 2024; the price target was $65. A number of analysts have revised their coverage, including TD Cowen’s analysts, who remained covering the stock and in late July has reiterated a ‘”a Buy”‘ rating for it. Wells Fargo also remained covering SLB and has decreased its forecast on April 29, 2024 with a “an Equal weight” recommendation from previously “an Overweight” rating. TD Cowen maintained its rating on April 22, 2024. It rated SLB as “a Buy”.
Price Performance Review of SLB
On Monday, Schlumberger Ltd. [NYSE:SLB] saw its stock jump 1.22% to $42.43. Over the last five days, the stock has lost -5.08%. Schlumberger Ltd. shares have fallen nearly -18.47% since the year began. Nevertheless, the stocks have fallen -29.25% over the past one year. While a 52-week high of $60.85 was reached on 03/28/24, a 52-week low of $38.66 was recorded on 09/11/24. SMA at 50 days reached $43.07, while 200 days put it at $47.35.
Levels Of Support And Resistance For SLB Stock
The 24-hour chart illustrates a support level at 42.03, which if violated will result in even more drops to 41.62. On the upside, there is a resistance level at 42.89. A further resistance level may holdings at 43.34. The Relative Strength Index (RSI) on the 14-day chart is 45.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.31, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.34%. Stochastics %K at 23.21% 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 2024-09-30, dropping by -1.08 million shares to a total of 37.83 million shares. Yahoo Finance data shows the prior-month short interest on 2024-08-30 was 38.91 million shares. There was a decline of -2.85%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on October 09, 2023 when Societe Generale began covering the stock and recommended ‘”a Buy”‘ rating along with a $81 price target.
