Schlumberger's 0.35% Rally Outshone by 46% Volume Plunge to 211th U.S. Rank

Schlumberger (SLB) closed higher by 0.35% on September 24, 2025, with a trading volume of $0.49 billion, marking a 45.96% decline from the previous day's volume. The stock ranked 211th in terms of trading activity among U.S.-listed equities, reflecting subdued market participation despite the modest price gain.

Recent developments in the energy services sector have drawn attention to Schlumberger's operational efficiency and cost management strategies. Analysts noted that the company's recent cost-cutting initiatives and focus on high-margin projects in emerging markets could influence investor sentiment. However, the muted trading volume suggests limited conviction in the current price movement, with institutional activity appearing to remain cautious ahead of key earnings reports and macroeconomic data releases.

Strategic positioning remains a critical factor for the stock. Schlumberger's ability to navigate fluctuating oil prices and geopolitical uncertainties in key markets will likely determine its near-term trajectory. The company's recent capital allocation decisions and progress in decarbonization projects are also under scrutiny as investors assess long-term value creation potential.

To set up this strategy back-test accurately, I need to clarify a few practical points: Trading universe – Do you want the top-500 stocks by dollar trading volume across: • All U.S. listed equities (NYSE + NASDAQ + AMEX)? • Another specific market (e.g., China A-shares, HK, Europe)? Signal definition – Should the ranking use each day’s full-day dollar volume and then form the portfolio at next day’s open, holding it until that day’s close (i.e., 1-day holding period, open-to-close)? – or – Buy at today’s close and sell at tomorrow’s close? Transaction costs / slippage – Do we ignore them, or apply an assumption (e.g., 10 bps per trade)? Any risk controls (stop-loss, max drawdown, etc.) or is it a pure 1-day holding with no constraints? Once these are confirmed, I’ll generate the data-retrieval plan, pull the required data, and run the back-test for 2022-01-01 through today.