Schlumberger Limited. (SLB) Posts Beat Despite Sharp Revenue Fall

What does the smart money think about Schlumberger Limited. (NYSE:SLB)?

Of the funds tracked by Insider Monkey, Edgar Wachenheim‘s Greenhaven Associates had the largest position in Schlumberger Limited. (NYSE:SLB), of 4.32 million shares worth close to $360.1 million, comprising 6.5% of its total 13F portfolio. Coming in second is Ken Fisher of Fisher Asset Management, with a $348 million position held in 4.17 million shares; the fund has 0.7% of its 13F portfolio invested in the stock. Similar hedgies that hold long positions contain Phill Gross and Robert Atchinson’s Adage Capital Management, Jim Simons’ Renaissance Technologies, and David E. Shaw’s D.E. Shaw & Co., L.P..

Since Schlumberger Limited. (NYSE:SLB) has experienced bearish sentiment from hedge fund managers, there is a sect of money managers that elected to cut their positions entirely in the first quarter. Interestingly, David Costen Haley‘s HBK Investments dumped the biggest stake of the 700 funds watched by Insider Monkey, dumping a position of call options underlying 500,000 shares, worth about $42.71 million. Howard Guberman’s fund, Gruss Asset Management, also dumped its position of call options underlying 470,000 shares, worth about $40.14 million.

Because the smart money are placing their bets elsewhere, and Schlumberger Limited. (NYSE:SLB) is facing a decline which they foresee to continue over the next few quarters, we advise investors to follow the smart money into other investing opportunities, which can be found elsewhere on Insider Monkey.

Disclosure: None