Schlumberger N.V. (NYSE:SLB) traded at a new 52-week high today of $33.12. This new high was reached on below average trading volume as 4.6 million shares traded hands, while the average 30-day volume is approximately 13.1 million shares.
Schlumberger N.V. has overhead space with shares priced $32.98, or 72.8% below the average consensus analyst price target of $121.28.
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.
In the past 52 weeks, shares of Schlumberger N.V. have traded between a low of $13.70 and a high of $33.12 and is now at $32.98, which is 141% above that low price.
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