Ipswich Investment Management Lowers stake in Schlumberger Limited. (SLB)

Schlumberger Limited. (SLB) : Ipswich Investment Management reduced its stake in Schlumberger Limited. by 15.93% during the most recent quarter end. The investment management company now holds a total of 84,955 shares of Schlumberger Limited. which is valued at $6.2 Million after selling 16,096 shares in Schlumberger Limited. , the firm said in a disclosure report filed with the SEC on May 11, 2016.Schlumberger Limited. makes up approximately 2.97% of Ipswich Investment Management’s portfolio.

Other Hedge Funds, Including , Schwartz Investment Counsel Inc boosted its stake in SLB in the latest quarter, The investment management firm added 40,100 additional shares and now holds a total of 531,375 shares of Schlumberger Limited. which is valued at $38.5 Million. Schlumberger Limited. makes up approx 2.87% of Schwartz Investment Counsel Inc’s portfolio.Gabelli Funds boosted its stake in SLB in the latest quarter, The investment management firm added 971,106 additional shares and now holds a total of 1,541,759 shares of Schlumberger Limited. which is valued at $115.8 Million. Schlumberger Limited. makes up approx 0.71% of Gabelli Funds’s portfolio.Mar Vista Investment Partners reduced its stake in SLB by selling 29,154 shares or 3.06% in the most recent quarter. The Hedge Fund company now holds 923,228 shares of SLB which is valued at $69.4 Million. Schlumberger Limited. makes up approx 4.27% of Mar Vista Investment Partners’s portfolio.Roanoke Asset Management Corp Ny reduced its stake in SLB by selling 1,125 shares or 2.05% in the most recent quarter. The Hedge Fund company now holds 53,775 shares of SLB which is valued at $4.3 Million. Schlumberger Limited. makes up approx 1.97% of Roanoke Asset Management Corp Ny’s portfolio.

Schlumberger Limited. opened for trading at $73.3 and hit $74.45 on the upside on Monday, eventually ending the session at $74, with a gain of 2.17% or 1.57 points. The heightened volatility saw the trading volume jump to 54,07,084 shares. Company has a market cap of $92,673 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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