Advisory Services Network Lowers stake in Schlumberger Limited. (SLB)

Schlumberger Limited. (SLB) : Advisory Services Network reduced its stake in Schlumberger Limited. by 49.92% during the most recent quarter end. The investment management company now holds a total of 8,270 shares of Schlumberger Limited. which is valued at $672,434 after selling 8,244 shares in Schlumberger Limited. , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Schlumberger Limited. makes up approximately 0.13% of Advisory Services Network’s portfolio.

Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in SLB by selling 4,583 shares or 1.27% in the most recent quarter. The Hedge Fund company now holds 355,094 shares of SLB which is valued at $28,872,693. Schlumberger Limited. makes up approx 0.61% of Exxonmobil Investment Management Inc Tx’s portfolio. Independence Advisors added SLB to its portfolio by purchasing 3,252 company shares during the most recent quarter which is valued at $264,420. Schlumberger Limited. makes up approx 0.13% of Independence Advisors’s portfolio.Mcqueen Ball Associates boosted its stake in SLB in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 19,836 shares of Schlumberger Limited. which is valued at $1,589,855. Schlumberger Limited. makes up approx 1.09% of Mcqueen Ball Associates’s portfolio.Burns J W Co Incny reduced its stake in SLB by selling 34 shares or 0.12% in the most recent quarter. The Hedge Fund company now holds 28,364 shares of SLB which is valued at $2,273,375. Schlumberger Limited. makes up approx 0.70% of Burns J W Co Incny’s portfolio.Lynch Associatesin reduced its stake in SLB by selling 275 shares or 2.19% in the most recent quarter. The Hedge Fund company now holds 12,275 shares of SLB which is valued at $983,841. Schlumberger Limited. makes up approx 0.43% of Lynch Associatesin’s portfolio.

Schlumberger Limited. closed down -0.11 points or -0.14% at $81.31 with 53,05,592 shares getting traded on Friday. Post opening the session at $81.79, the shares hit an intraday low of $80.98 and an intraday high of $82.1 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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