As Schlumberger LTD (SLB) Valuation Rose, Summit Financial Wealth Advisors LLC Has Boosted Stake by $3.03 Million

August 10, 2018 - By Russell Jones

Schlumberger Limited (NYSE:SLB) LogoInvestors sentiment increased to 1.2 in 2018 Q1. Its up 0.54, from 0.66 in 2017Q4. It is positive, as 60 investors sold SLB shares while 488 reduced holdings. 111 funds opened positions while 548 raised stakes. 1.04 billion shares or 1.22% less from 1.05 billion shares in 2017Q4 were reported. Northside Management Ltd stated it has 0.08% in Schlumberger Limited (NYSE:SLB). Pictet Asset Ltd holds 780,295 shares or 0.12% of its portfolio. Tiaa Cref Invest Mgmt Llc owns 0.3% invested in Schlumberger Limited (NYSE:SLB) for 6.76 million shares. Advantus Capital Mgmt Inc has invested 0.23% in Schlumberger Limited (NYSE:SLB). Quantum Cap Mgmt holds 7,984 shares or 0.12% of its portfolio. Bridges Inv Mgmt reported 0.19% of its portfolio in Schlumberger Limited (NYSE:SLB). Cohen Mgmt holds 0.96% of its portfolio in Schlumberger Limited (NYSE:SLB) for 59,781 shares. Waverton Inv Management holds 1.30M shares or 4.93% of its portfolio. Macguire Cheswick & Tuttle Inv Counsel Limited Liability Co holds 1.72% of its portfolio in Schlumberger Limited (NYSE:SLB) for 142,712 shares. Point72 Asia (Hong Kong) holds 4,887 shares. Lombard Odier Asset Mgmt (Europe) Limited accumulated 14,023 shares or 0.06% of the stock. Pnc Group has 1.72M shares. Hap Trading Lc holds 0.27% or 83,683 shares. 8,605 are owned by Bank & Trust Of The Ozarks. Gateway Invest Advisers Ltd Liability has invested 0.49% in Schlumberger Limited (NYSE:SLB).

Since March 26, 2018, it had 3 insider buys, and 1 insider sale for $945,601 activity. Schorn Patrick had bought 5,000 shares worth $323,950 on Monday, March 26. Al Mogharbel Khaled also bought $192,900 worth of Schlumberger Limited (NYSE:SLB) shares. KIBSGAARD PAAL bought $646,800 worth of stock.

Summit Financial Wealth Advisors Llc increased its stake in Schlumberger Ltd (SLB) by 527.92% based on its latest 2018Q1 regulatory filing with the SEC. Summit Financial Wealth Advisors Llc bought 47,397 shares as the company’s stock rose 2.80% while stock markets declined. The institutional investor held 56,375 shares of the oilfield services and equipment company at the end of 2018Q1, valued at $3.65 million, up from 8,978 at the end of the previous reported quarter. Summit Financial Wealth Advisors Llc who had been investing in Schlumberger Ltd for a number of months, seems to be bullish on the $90.43B market cap company. The stock decreased 0.10% or $0.065 during the last trading session, reaching $65.335. About 153,305 shares traded. Schlumberger Limited (NYSE:SLB) has declined 1.14% since August 10, 2017 and is downtrending. It has underperformed by 13.71% the S&P500.

Summit Financial Wealth Advisors Llc, which manages about $360.13 million and $134.32 million US Long portfolio, decreased its stake in Ishares Tr (PFF) by 174,428 shares to 118,596 shares, valued at $4.45M in 2018Q1, according to the filing. It also reduced its holding in Proshares Tr (NOBL) by 254,158 shares in the quarter, leaving it with 179,488 shares, and cut its stake in First Tr Exch Traded Fd Iii.

More notable recent Schlumberger Limited (NYSE:SLB) news were published by: Seekingalpha.com which released: “Schlumberger: The Much Awaited Recovery Is Here” on August 02, 2018, also Seekingalpha.com with their article: “Revisiting Schlumberger” published on July 22, 2018, Seekingalpha.com published: “Schlumberger Now Taking Market Share With OneStim” on July 24, 2018. More interesting news about Schlumberger Limited (NYSE:SLB) were released by: Seekingalpha.com and their article: “Schlumberger: Beat And Scarred, But Not Broken” published on July 24, 2018 as well as Seekingalpha.com‘s news article titled: “Another Solid Performance From Schlumberger” with publication date: July 27, 2018.

Schlumberger Limited (NYSE:SLB) Ratings Coverage

Among 11 analysts covering Schlumberger (NYSE:SLB), 11 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Schlumberger had 16 analyst reports since February 12, 2018 according to SRatingsIntel. Cowen & Co maintained the shares of SLB in report on Friday, April 13 with “Buy” rating. Cowen & Co maintained the stock with “Buy” rating in Thursday, March 15 report. The firm has “Buy” rating by Jefferies given on Wednesday, April 4. As per Thursday, June 21, the company rating was maintained by FBR Capital. Wells Fargo maintained the stock with “Buy” rating in Thursday, May 24 report. Seaport Global maintained the shares of SLB in report on Monday, April 23 with “Buy” rating. SunTrust maintained Schlumberger Limited (NYSE:SLB) rating on Monday, April 23. SunTrust has “Buy” rating and $8200 target. The stock has “Buy” rating by Credit Suisse on Monday, April 23. SunTrust upgraded the stock to “Buy” rating in Tuesday, April 3 report. The firm has “Buy” rating given on Monday, April 23 by Susquehanna.

Schlumberger Limited (NYSE:SLB) Institutional Positions Chart

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