NEW YORK ( TheStreet) -- Since reaching a high of $77.84 on May 21, shares of energy giant Schlumberger (SLB - Get Report) have been down by as much as 10%, reaching a low of $70.25 on June 24. Since then, however, the stock has bounced back, gaining as much as 9% on virtually no news at all. (SLB closed Wednesday at $82.16.)This pretty much explains the volatile nature of the oil services sector. Investors have had a hard time making up their minds on this sluggish industry, which has been hurt by feeble prices and soft rig counts. Although Schlumberger has been by far the leader of a group that includes rivals Halliburton (HAL) and Baker Hughes (BHI), Schlumberger has had a tough time overcoming weakness in North America.
Schlumberger Is Heading to $90
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