Schlumberger N.V. (SLB) : Traders are bullish on Schlumberger N.V. (SLB) as it has outperformed the S&P 500 by a wide margin of 1.69% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.63%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.6% in the last 1 week, and is up 2.08% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Schlumberger Limited is up 11.86% in the last 3-month period. Year-to-Date the stock performance stands at 21.09%. The stock has recorded a 20-day Moving Average of 2.93% and the 50-Day Moving Average is 4.95%.
Schlumberger N.V. (NYSE:SLB): The stock opened at $83.51 on Friday but the bulls could not build on the opening and the stock topped out at $83.67 for the day. The stock traded down to $82.72 during the day, due to lack of any buying support eventually closed down at $83.31 with a loss of -0.66% for the day. The stock had closed at $83.86 on the previous day. The total traded volume was 5,185,639 shares.
Also, Equity Analysts at the Brokerage Firm, Nomura, maintains their rating on the shares of Schlumberger N.V. (NYSE:SLB). Nomura has a Buy rating on the shares. As per the latest research report, the brokerage house raises the price target to $91 per share from a prior target of $88. The rating by the firm was issued on August 16, 2016.
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.