Schlumberger N.V. (NYSE:SLB) has tumbled 1.31% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 3.39% in the last four weeks. The stocks have underperformed the S&P 500 by 0.13% during the past week but Schlumberger N.V. (NYSE:SLB) it has outperformed the index in 4 weeks by 2.45%.
Schlumberger N.V. (NYSE:SLB): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $76.88 and $76.22 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $77.79. The buying momentum continued till the end and the stock did not give up its gains. It closed at $77.50, notching a gain of 1.52% for the day. The total traded volume was 6,583,912 . The stock had closed at $76.34 on the previous day.
The company shares have dropped -10.89% from its 1 Year high price. On Jun 24, 2015, the shares registered one year high at $88.12 and the one year low was seen on Jan 20, 2016. The 50-Day Moving Average price is $76.37 and the 200 Day Moving Average price is recorded at $72.95.
On the companys insider trading activities, The director officer (Chief Executive Officer), of Schlumberger Ltd /Nv/, Kibsgaard Paal had unloaded 32,857 shares at $80 per share in a transaction on June 9, 2016. The total value of transaction was $2,628,560. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.
Many analysts have stated their opinion on the company shares. Equity analysts at the Brokerage firm Goldman Sachs upgrades its rating on Schlumberger N.V. (NYSE:SLB). The rating major has initiated the coverage with conviction buy rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on May 23, 2016. Currently the company Insiders own 0.36% of Schlumberger N.V. shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -10.87% . Institutional Investors own 74.35% of Schlumberger N.V. shares. During last six month period, the net percent change held by insiders has seen a change of -8.47%.
Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three Groups, which include Reservoir Characterization Group, which consists of the principal technologies involved in finding and defining hydrocarbon resources; Drilling Group, which consists of the principal technologies involved in the drilling and positioning of oil and gas wells, and Production Group, which consists of the principal technologies involved in the lifetime production of oil and gas reservoirs and includes Well Services, Completions, Artificial Lift, Well Intervention, Water Services and the Schlumberger Production Management field production projects.