HOUSTON—Merad Abdellah, Executive Vice President of Core Services & Equipment at Schlumberger Limited (NYSE:SLB), recently sold 60,000 shares of the company's common stock. The shares were sold at a weighted average price of $41.44, resulting in a total transaction value of approximately $2.49 million.
Following this transaction, Abdellah retains direct ownership of 210,502 shares in the oilfield services giant. The sale was executed through multiple trades with prices ranging from $41.43 to $41.47. With a P/E ratio of 13 and analyst targets suggesting up to 31% upside potential, InvestingPro subscribers can access detailed insider trading patterns and 8 additional ProTips to better understand the company's outlook. The company has maintained dividend payments for 55 consecutive years, demonstrating long-term financial stability.
In other recent news, Aker Solutions and SLB Capturi have secured a contract for a carbon capture project in Oslo, Norway, with a value between $223.3 million and $357.3 million. The project, awarded by Hafslund Celsio, is set to commence in 2025 and expected to be completed by 2029. In relation to SLB, Stifel analysts have maintained their Buy rating, emphasizing the company's financial strength and potential for rewarding shareholders through buybacks and dividends. TD Cowen has also slightly raised estimates for SLB, setting a price target of $55.
Meanwhile, Benchmark analysts reiterated a Buy rating for SLB, with a $60.00 price target, highlighting a stable revenue forecast for 2025 and an acceleration of the company's $2.3 billion share repurchase program. Lastly, RBC Capital Markets maintained its Outperform rating on SLB shares, expressing confidence in the company's performance and potential for a rebound in 2025, especially with the finalization of its CHX acquisition and the growth in the digital segment. These are some of the recent developments for both Aker Solutions and SLB.
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