Campbell Newman Asset Management INC Decreased Stake in Schlumberger LTD (NYSE:SLB) by $8.31 Million as Shares Rose


Campbell Newman Asset Management Inc decreased its stake in Schlumberger Ltd. (NYSE:SLB) by 93.4% based on its latest 2016Q2 regulatory filing with the SEC. Campbell Newman Asset Management Inc sold 113,782 shares as the company’s stock rose 6.61% with the market. The institutional investor held 8,037 shares of the oilfield services and equipment company at the end of 2016Q2, valued at $593,000, down from 121,819 at the end of the previous reported quarter. Campbell Newman Asset Management Inc who had been investing in Schlumberger Ltd. for a number of months, seems to be less bullish one the $109.18B market cap company. The stock is down 1.94% or $1.53 after the negative news, hitting $77.27 per share. About 3.83M shares traded hands. Schlumberger Limited. (NYSE:SLB) has risen 12.93% since February 8, 2016 and is uptrending. It has underperformed by 3.56% the S&P500.

Campbell Newman Asset Management Inc is a Wisconsin-based institutional investor with more than $443.30 million AUM in March, 2014. Taken from Campbell Newman Asset Management latest Adv, the fund reported to have 6 full and part-time employees. Among which 3 performing investment advisory and research functions. The institutional investor had more than 400 clients.

The institutional sentiment increased to 1.59 in 2016 Q2. Its up 0.42, from 1.17 in 2016Q1. The ratio improved, as 60 funds sold all SLB shares owned while 438 reduced positions. 109 funds bought stakes while 682 increased positions. They now own 1.07 billion shares or 5.14% more from 1.02 billion shares in 2016Q1.

Talara Capital Management Llc holds 7.67% of its portfolio in SLB for 218,859 shares. Adams Natural Resources Fund Inc. owns 562,800 shares or 7% of their US portfolio. Moreover, Rr Partners Lp has 6.92% invested in the company for 2.02 million shares. The California-based Tukman Grossman Capital Management Inc has invested 6.55% in the stock. Wedgewood Partners Inc, a Missouri-based fund reported 3.99 million shares.

Out of 22 analysts covering Schlumberger Limited. (NYSE:SLB), 18 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 82% are positive. Schlumberger Limited. has been the topic of 57 analyst reports since September 21, 2015 according to StockzIntelligence Inc. Nomura maintained the stock on August 16 with “Buy” rating.

Schlumberger N.V. is a supplier of technology, integrated project management and information solutions to the international gas and oil exploration and production industry. The company has a market cap of $109.18 billion. The Firm operates in the oilfield service markets through three groups: Reservoir Characterization, Drilling and Production. It currently has negative earnings. Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.

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