Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Schlumberger Ltd shares valued at $2,514,000 were sold by Merad Abdellah on Oct 24 ’24. At $41.90 per share, Merad Abdellah sold 60,000 shares. The insider’s holdings dropped to 211,937 shares worth approximately $9.16 million following the completion of this transaction.
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Also, Merad Abdellah purchased 60,000 shares, netting a total of over 2,514,000 in proceeds.
Before that, Biguet Stephane had sold 50,048 shares from its account. In a trade valued at $2,499,397, the EVP & CFO traded Schlumberger Ltd shares for $49.94 each. Upon closing the transaction, the insider’s holdings decreased to 50,048 shares, worth approximately $8.78 million.
As published in a research note from TD Cowen on October 21, 2024, Schlumberger Ltd [SLB] has been retained to a Buy and the price target has been revised to $65. Analysts at TD Cowen resumed the stock at ‘”a Buy”‘ outlook in a report released in late July. As of April 29, 2024, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for SLB. Earlier on April 22, 2024, TD Cowen resumed its rating. Their recommendation was “a Buy” for SLB stock.
Analyzing SLB Stock Performance
During the last five days, there has been a surge of approximately 7.91%. Over the course of the year, Schlumberger Ltd shares have dropped approximately -16.91%. Shares of the company reached a 52-week high of $55.69 on 03/28/24 and a 52-week low of $38.66 on 09/11/24. A 50-day SMA is recorded $42.23, while a 200-day SMA reached $46.80. Nevertheless, trading volume fell to 15.28 million shares from 25.38 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 42.68, which, if violated, would cause prices to drop to 42.13. In the upper region, resistance lies at 43.85. The next price resistance is at 44.47. RSI (Relative Strength Index) is 55.99 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.15, which suggests the price will increase in the coming days. Percent R is at 23.46%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
