Harding Loevner Lp buys $702,782,456 stake in Schlumberger Limited. (SLB)

Schlumberger Limited. (SLB) : Harding Loevner Lp scooped up 475,368 additional shares in Schlumberger Limited. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 2, 2016. The investment management firm now holds a total of 9,355,464 shares of Schlumberger Limited. which is valued at $702,782,456.Schlumberger Limited. makes up approximately 5.61% of Harding Loevner Lp’s portfolio.

Schlumberger Limited. closed down -0.28 points or -0.37% at $75.12 with 80,83,750 shares getting traded on Friday. Post opening the session at $75.03, the shares hit an intraday low of $74.6 and an intraday high of $76.01 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Rhumbline Advisers boosted its stake in SLB in the latest quarter, The investment management firm added 104,725 additional shares and now holds a total of 2,055,610 shares of Schlumberger Limited. which is valued at $154,417,423. Schlumberger Limited. makes up approx 0.48% of Rhumbline Advisers’s portfolio.Whitnell boosted its stake in SLB in the latest quarter, The investment management firm added 1,151 additional shares and now holds a total of 25,592 shares of Schlumberger Limited. which is valued at $2,056,061. Schlumberger Limited. makes up approx 0.75% of Whitnell’s portfolio.Loudon Investment Management boosted its stake in SLB in the latest quarter, The investment management firm added 728 additional shares and now holds a total of 11,223 shares of Schlumberger Limited. which is valued at $901,656. Schlumberger Limited. makes up approx 0.73% of Loudon Investment Management’s portfolio.Sigma Investment Counselors Inc boosted its stake in SLB in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 27,632 shares of Schlumberger Limited. which is valued at $2,219,955. Schlumberger Limited. makes up approx 0.39% of Sigma Investment Counselors Inc’s portfolio.Klingman Associates reduced its stake in SLB by selling 2,800 shares or 85.44% in the most recent quarter. The Hedge Fund company now holds 477 shares of SLB which is valued at $38,127. Schlumberger Limited. makes up approx 0.01% of Klingman Associates’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.. Schlumberger Limited. was Downgraded by Societe Generale to ” Hold” on Apr 28, 2016. 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 .

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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