Beacon Financial Group Lowers stake in Schlumberger Limited. (SLB)

Schlumberger Limited. (SLB) : Beacon Financial Group reduced its stake in Schlumberger Limited. by 4.19% during the most recent quarter end. The investment management company now holds a total of 30,410 shares of Schlumberger Limited. which is valued at $2.2 Million after selling 1,331 shares in Schlumberger Limited. according to a report filed by the company on Apr 1, 2016 with the SEC.Schlumberger Limited. makes up approximately 0.47% of Beacon Financial Group’s portfolio.

Other Hedge Funds, Including , Renaissance Investment Group reduced its stake in SLB by selling 850 shares or 10.53% in the most recent quarter. The Hedge Fund company now holds 7,225 shares of SLB which is valued at $521,067. Schlumberger Limited. makes up approx 0.26% of Renaissance Investment Group’s portfolio.

On the company’s financial health, Schlumberger Limited. reported $0.65 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jan 21, 2016. Analyst had a consensus of $0.63. The company had revenue of $7744.00 million for the quarter, compared to analysts expectations of $7786.76 million. The company’s revenue was down -38.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.50 EPS.

Many Wall Street Analysts have commented on Schlumberger Limited.. Schlumberger Limited. was Initiated by Nomura to “Buy” on Apr 8, 2016. Schlumberger Limited. was Resumed by Credit Suisse to “Outperform” on Apr 4, 2016. Goldman Resumed Schlumberger Limited. on Apr 4, 2016 to “Buy”, Price Target of the shares are set at $82.

Schlumberger Limited. opened for trading at $74.36 and hit $74.91 on the upside on Monday, eventually ending the session at $73.88, with a gain of 0.04% or 0.03 points. The heightened volatility saw the trading volume jump to 74,65,100 shares. Company has a market cap of $92,820 M.

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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