K2 Principal Fund buys $17.2 Million stake in Schlumberger Limited. (SLB)

Schlumberger Limited. (SLB) : K2 Principal Fund scooped up 174,099 additional shares in Schlumberger Limited. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 238,054 shares of Schlumberger Limited. which is valued at $17.2 Million.Schlumberger Limited. makes up approximately 5.37% of K2 Principal Fund’s portfolio.

Other Hedge Funds, Including , Peak Asset Management boosted its stake in SLB in the latest quarter, The investment management firm added 631 additional shares and now holds a total of 8,743 shares of Schlumberger Limited. which is valued at $633,255. Schlumberger Limited. makes up approx 0.14% of Peak Asset Management’s portfolio.Investment Management Of Virginia reduced its stake in SLB by selling 14,036 shares or 11.51% in the most recent quarter. The Hedge Fund company now holds 107,918 shares of SLB which is valued at $8.1 Million. Schlumberger Limited. makes up approx 2.17% of Investment Management Of Virginia’s portfolio.Farmers Merchants Investments Inc boosted its stake in SLB in the latest quarter, The investment management firm added 2,270 additional shares and now holds a total of 32,402 shares of Schlumberger Limited. which is valued at $2.4 Million. Schlumberger Limited. makes up approx 0.28% of Farmers Merchants Investments Inc’s portfolio.Beck Mack Oliver reduced its stake in SLB by selling 31,334 shares or 3.02% in the most recent quarter. The Hedge Fund company now holds 1,006,243 shares of SLB which is valued at $80.8 Million. Schlumberger Limited. makes up approx 2.79% of Beck Mack Oliver’s portfolio.

Schlumberger Limited. opened for trading at $74.67 and hit $75.14 on the upside on Friday, eventually ending the session at $74.96, with a gain of 1.02% or 0.76 points. The heightened volatility saw the trading volume jump to 73,89,357 shares. Company has a market cap of $93,875 M.

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.. Scotia Howard Weil Downgraded Schlumberger Limited. on May 12, 2016 to ” Sector Outperform”, Price Target of the shares are set at $80.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 .

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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