Cadence Capital Management Lowers stake in Schlumberger Limited. (SLB)

Schlumberger Limited. (SLB) : Cadence Capital Management reduced its stake in Schlumberger Limited. by 8.63% during the most recent quarter end. The investment management company now holds a total of 166,412 shares of Schlumberger Limited. which is valued at $13,249,723 after selling 15,718 shares in Schlumberger Limited. , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Schlumberger Limited. makes up approximately 0.97% of Cadence Capital Management’s portfolio.

Other Hedge Funds, Including , Orinda Asset Management added SLB to its portfolio by purchasing 23,720 company shares during the most recent quarter which is valued at $1,888,586. Schlumberger Limited. makes up approx 2.03% of Orinda Asset Management’s portfolio.Pettee Investors reduced its stake in SLB by selling 500 shares or 2.54% in the most recent quarter. The Hedge Fund company now holds 19,198 shares of SLB which is valued at $1,528,545. Schlumberger Limited. makes up approx 1.45% of Pettee Investors’s portfolio.Rockland Trust Co boosted its stake in SLB in the latest quarter, The investment management firm added 6,941 additional shares and now holds a total of 168,215 shares of Schlumberger Limited. which is valued at $13,728,026. Schlumberger Limited. makes up approx 2.27% of Rockland Trust Co’s portfolio.Creative Planning boosted its stake in SLB in the latest quarter, The investment management firm added 7,207 additional shares and now holds a total of 46,515 shares of Schlumberger Limited. which is valued at $3,669,103. Schlumberger Limited. makes up approx 0.03% of Creative Planning’s portfolio.Integrated Investment Consultants boosted its stake in SLB in the latest quarter, The investment management firm added 1,294 additional shares and now holds a total of 3,544 shares of Schlumberger Limited. which is valued at $275,121. Schlumberger Limited. makes up approx 0.14% of Integrated Investment Consultants’s portfolio.

Schlumberger Limited. opened for trading at $81.64 and hit $82.9883 on the upside on Monday, eventually ending the session at $82.5, with a gain of 1.60% or 1.3 points. The heightened volatility saw the trading volume jump to 62,13,903 shares. Company has a market cap of $114,732 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.. Company shares were Reiterated by Cowen on Jul 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 92 from a previous price target of $85 .Company shares were Reiterated by Scotia Howard Weil on Jul 25, 2016 to “Sector Outperform”, Firm has raised the Price Target to $ 90 from a previous price target of $80 .Schlumberger Limited. was Upgraded by Societe Generale to ” Buy” on Jul 19, 2016.

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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