Glazer Capital buys $87 Million stake in Schlumberger Limited. (SLB)

Schlumberger Limited. (SLB) : Glazer Capital scooped up 814,260 additional shares in Schlumberger Limited. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 1,201,139 shares of Schlumberger Limited. which is valued at $87 Million.Schlumberger Limited. makes up approximately 25.41% of Glazer Capital’s portfolio.

Other Hedge Funds, Including , Argentus Capital Management boosted its stake in SLB in the latest quarter, The investment management firm added 809 additional shares and now holds a total of 4,425 shares of Schlumberger Limited. which is valued at $320,503. Schlumberger Limited. makes up approx 0.12% of Argentus Capital Management’s portfolio.Guardian Life Insurance Co Of America reduced its stake in SLB by selling 1,456 shares or 21.97% in the most recent quarter. The Hedge Fund company now holds 5,171 shares of SLB which is valued at $374,536. Schlumberger Limited. makes up approx 0.07% of Guardian Life Insurance Co Of America’s portfolio. Catalyst Capital Advisors added SLB to its portfolio by purchasing 659 company shares during the most recent quarter which is valued at $47,731. Schlumberger Limited. makes up approx 0.01% of Catalyst Capital Advisors’s portfolio.Foster Dykema Cabot Co Incma boosted its stake in SLB in the latest quarter, The investment management firm added 750 additional shares and now holds a total of 164,835 shares of Schlumberger Limited. which is valued at $12.4 Million. Schlumberger Limited. makes up approx 2.99% of Foster Dykema Cabot Co Incma’s portfolio.Front Barnett Associates boosted its stake in SLB in the latest quarter, The investment management firm added 775 additional shares and now holds a total of 32,117 shares of Schlumberger Limited. which is valued at $2.4 Million. Schlumberger Limited. makes up approx 0.49% of Front Barnett Associates’s portfolio.

Schlumberger Limited. opened for trading at $76 and hit $78 on the upside on Wednesday, eventually ending the session at $77.91, with a gain of 3.03% or 2.29 points. The heightened volatility saw the trading volume jump to 74,89,455 shares. Company has a market cap of $97,569 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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