SLB - Insider Transaction: Abdellah Merad Sells $2.43M Worth Of Schlumberger Shares | Benzinga
Abdellah Merad, EVP at Schlumberger (NYSE:SLB), executed a substantial insider sell on February 26, according to an SEC filing.
What Happened: Merad's recent move involves selling 50,000 shares of Schlumberger. This information is documented in a Form 4 filing with the U.S. Securities and Exchange Commission on Monday. The total value is $2,426,000.
Tracking the Tuesday's morning session, Schlumberger shares are trading at $48.8, showing a up of 0.49%.
Delving into Schlumberger's Background
SLB is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions. It maintains a reputation as one of the industry's leading innovators, which has earned it dominant share in numerous end markets.
Understanding the Numbers: Schlumberger's Finances
Revenue Growth: Over the 3 months period, Schlumberger showcased positive performance, achieving a revenue growth rate of 14.12% as of 31 December, 2023. This reflects a substantial increase in the company's top-line earnings. As compared to its peers, the company achieved a growth rate higher than the average among peers in Energy sector.
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