Mechanics Bank Trust Department Lowers stake in Schlumberger Limited. (SLB)

Schlumberger Limited. (SLB) : Mechanics Bank Trust Department reduced its stake in Schlumberger Limited. by 3.21% during the most recent quarter end. The investment management company now holds a total of 20,208 shares of Schlumberger Limited. which is valued at $1,615,225 after selling 670 shares in Schlumberger Limited. , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Schlumberger Limited. makes up approximately 0.62% of Mechanics Bank Trust Department’s portfolio.

Schlumberger Limited. opened for trading at $79.78 and hit $81.18 on the upside on Wednesday, eventually ending the session at $80.6, with a gain of 1.77% or 1.4 points. The heightened volatility saw the trading volume jump to 73,11,719 shares. Company has a market cap of $101,263 M.

Other Hedge Funds, Including , Appleton Partners Incma reduced its stake in SLB by selling 8,223 shares or 10.58% in the most recent quarter. The Hedge Fund company now holds 69,484 shares of SLB which is valued at $5,553,856. Schlumberger Limited. makes up approx 1.08% of Appleton Partners Incma’s portfolio. Aull Monroe Investment Management Corp added SLB to its portfolio by purchasing 2,822 company shares during the most recent quarter which is valued at $225,562. Schlumberger Limited. makes up approx 0.13% of Aull Monroe Investment Management Corp’s portfolio.High Point Bank Trust Co reduced its stake in SLB by selling 475 shares or 10.61% in the most recent quarter. The Hedge Fund company now holds 4,000 shares of SLB which is valued at $319,720. Schlumberger Limited. makes up approx 0.08% of High Point Bank Trust Co’s portfolio.Signature Estate Investment Advisors boosted its stake in SLB in the latest quarter, The investment management firm added 13,717 additional shares and now holds a total of 166,137 shares of Schlumberger Limited. which is valued at $12,669,608. Schlumberger Limited. makes up approx 2.08% of Signature Estate Investment Advisors’s portfolio.Btr Capital Management Inc boosted its stake in SLB in the latest quarter, The investment management firm added 2,620 additional shares and now holds a total of 128,787 shares of Schlumberger Limited. which is valued at $9,821,297. Schlumberger Limited. makes up approx 2.25% of Btr Capital Management Inc’s portfolio.

On the company’s financial health, Schlumberger Limited. reported $0.40 EPS for the quarter, based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus estimate of $0.40. The company had revenue of $6520.00 million for the quarter, compared to analysts expectations of $6533.64 million. The company’s revenue was down -36.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.06 EPS.

Many Wall Street Analysts have commented on Schlumberger Limited.. Shares were Reiterated by Barclays on Apr 26, 2016 to “Overweight” and Lowered the Price Target to $ 92 from a previous price target of $93 .Company shares were Reiterated by Cowen on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 85 from a previous price target of $75 .Company shares were Reiterated by Nomura on Apr 25, 2016 to “Buy”, Firm has raised the Price Target to $ 88 from a previous price target of $81 .

Schlumberger N.V. is a supplier of technology integrated project management and information solutions to the international oil and gas exploration and production industry. The Company operates in the oilfield service markets through three Groups which include Reservoir Characterization Group which consists of the principal technologies involved in finding and defining hydrocarbon resources; Drilling Group which consists of the principal technologies involved in the drilling and positioning of oil and gas wells and Production Group which consists of the principal technologies involved in the lifetime production of oil and gas reservoirs and includes Well Services Completions Artificial Lift Well Intervention Water Services and the Schlumberger Production Management field production projects.

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