The Chairman of Schlumberger (NYSE: SLB) is Buying Shares

By Carrie Williams

On August 6, the Chairman of Schlumberger (SLBResearch Report), Mark G Papa, bought shares of SLB for $291.9K.

Following this transaction Mark G Papa’s holding in the company was increased by 43% to a total of $968.5K. In addition to Mark G Papa, one other SLB executive reported Buy trades in the last month.

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The company has a one-year high of $41.14 and a one-year low of $11.87.

Based on 16 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $23.54, reflecting a -18.5% downside. 10 different firms, including Barclays and Citigroup, currently also have a Buy rating on the stock.

The insider sentiment on Schlumberger has been neutral according to 112 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Reservoir Characterization, Drilling, Production, Cameron and Elimination and other. The Reservoir Characterization Group segment consists of the principal technologies involved in finding and defining hydrocarbon resources. The Drilling Group segment includes the drilling and positioning of oil and gas wells such as bits and drilling tolls, drilling and measurement, land rigs and integrated drilling services. The Production Group segment provides technologies in the lifetime production of oil and gas reservoirs such as well services, completions, artificial lift, well intervention, water service, integrated production services and others. The Cameron Group segment consists of the pressure and flow control for drilling and intervention rigs, oil and gas wells and production facilities. The company was founded by Conrad Schlumberger and Marcel Schlumberger in 1926 and is headquartered in Houston, TX.