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

Schlumberger Limited. (SLB) : Midwest Investment Management reduced its stake in Schlumberger Limited. by 0.86% during the most recent quarter end. The investment management company now holds a total of 43,941 shares of Schlumberger Limited. which is valued at $3,581,192 after selling 379 shares in Schlumberger Limited. , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Schlumberger Limited. makes up approximately 2.83% of Midwest Investment Management’s portfolio.

Other Hedge Funds, Including , Schwartz Investment Counsel Inc reduced its stake in SLB by selling 34,800 shares or 6.55% in the most recent quarter. The Hedge Fund company now holds 496,575 shares of SLB which is valued at $40,967,438. Schlumberger Limited. makes up approx 2.83% of Schwartz Investment Counsel Inc’s portfolio. Exane Derivatives sold out all of its stake in SLB during the most recent quarter. The investment firm sold 4,156 shares of SLB which is valued $330,901.Msi Financial Services Inc reduced its stake in SLB by selling 253 shares or 0.99% in the most recent quarter. The Hedge Fund company now holds 25,427 shares of SLB which is valued at $2,031,109. Schlumberger Limited. makes up approx 0.07% of Msi Financial Services Inc’s portfolio.Sanders Morris Harris reduced its stake in SLB by selling 5,435 shares or 64.61% in the most recent quarter. The Hedge Fund company now holds 2,977 shares of SLB which is valued at $237,803. Schlumberger Limited. makes up approx 0.06% of Sanders Morris Harris’s portfolio.

Schlumberger Limited. opened for trading at $81.6 and hit $82.25 on the upside on Wednesday, eventually ending the session at $82.21, with a gain of 0.35% or 0.29 points. The heightened volatility saw the trading volume jump to 39,05,473 shares. Company has a market cap of $114,329 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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