Schlumberger N.V. (NYSE:SLB) traded today at a new 52-week high of $39.40. This new high was reached on below average trading volume as 2.8 million shares traded hands, while the average 30-day volume is approximately 12.6 million shares.
Schlumberger N.V. (NYSE:SLB) is currently priced 6.3% above its average consensus analyst price target of $36.56.
Schlumberger is the world’s largest supplier of products and services to the oil and gas industry. The company operates its business via multiple groups: reservoir characterization, drilling, production, and Cameron. It is investing more than any other services firm to make its offerings more bundled, which it believes is likely to be one of the key industry trends during the next 10 years. Efforts on this front are most visible via the Schlumberger Production Management business, which now accounts for 10% of its revenue.
Over the past year, Schlumberger N.V. has traded in a range of $21.23 to $39.40 and is now at $39.02, 84% above that low.
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