Despite a downturn in the market on Wednesday, with the S&P 500 and Dow Jones dropping by 1.34% and 0.98% respectively, shares of Schlumberger (NYSE:SLB) Ltd. managed to buck the trend. The oilfield services company's shares gained 0.58%, closing at $60.59, marking the fourth consecutive day of gains.
This closing price left Schlumberger just $1.53 shy of its annual high of $62.12, which was set on September 12th, 2023. Compared to its competitors in the energy sector, Schlumberger outperformed them all. Baker Hughes Co.'s stock rose by a modest 0.31% to close at $35.72, while Halliburton (NYSE:HAL) Co.'s shares increased by 0.21% to end at $43.13. Meanwhile, NOV Inc.'s stock fell by 1.14%, closing at $20.82.
However, despite the positive performance, Schlumberger's trading volume was recorded at 7 million on Wednesday, falling short of its 50-day average volume of 7.7 million shares traded per day. This indicates that while the share price rose, the number of shares changing hands was below average for the company.
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