Veritas Investment Management Uk LTD Holding in Schlumberger (SLB) Has Boosted by $730,365; Beach Investment Counsel Has Decreased Its Magellan Midstream Partners L (MMP) Position by $553,800; Valuation Declined

February 20, 2018 - By Richard Conner

Veritas Investment Management Uk Ltd increased its stake in Schlumberger (SLB) by 6.59% based on its latest 2017Q3 regulatory filing with the SEC. Veritas Investment Management Uk Ltd bought 10,585 shares as the company’s stock declined 11.04% while stock markets rallied. The institutional investor held 171,203 shares of the oilfield services and equipment company at the end of 2017Q3, valued at $11.94 million, up from 160,618 at the end of the previous reported quarter. Veritas Investment Management Uk Ltd who had been investing in Schlumberger for a number of months, seems to be bullish on the $91.73 billion market cap company. The stock increased 0.11% or $0.07 during the last trading session, reaching $66.28. About 7.51M shares traded. Schlumberger Limited (NYSE:SLB) has declined 3.30% since February 20, 2017 and is downtrending. It has underperformed by 20.00% the S&P500.

Beach Investment Counsel Inc decreased its stake in Magellan Midstream Partners L (MMP) by 1.02% based on its latest 2017Q3 regulatory filing with the SEC. Beach Investment Counsel Inc sold 7,800 shares as the company’s stock declined 7.68% while stock markets rallied. The hedge fund held 754,531 shares of the natural gas distribution company at the end of 2017Q3, valued at $53.62M, down from 762,331 at the end of the previous reported quarter. Beach Investment Counsel Inc who had been investing in Magellan Midstream Partners L for a number of months, seems to be less bullish one the $15.20B market cap company. The stock decreased 0.92% or $0.62 during the last trading session, reaching $66.64. About 1.12 million shares traded or 21.52% up from the average. Magellan Midstream Partners, L.P. (NYSE:MMP) has risen 3.55% since February 20, 2017 and is uptrending. It has underperformed by 13.15% the S&P500.

Since September 14, 2017, it had 0 insider purchases, and 2 insider sales for $1.87 million activity. Another trade for 5,000 shares valued at $353,200 was made by Selvidge Jeff R on Thursday, September 14.

Beach Investment Counsel Inc, which manages about $1.43B and $951.00 million US Long portfolio, upped its stake in Henry Schein (NASDAQ:HSIC) by 14,295 shares to 28,640 shares, valued at $2.35 million in 2017Q3, according to the filing. It also increased its holding in Citigroup (NYSE:C) by 12,490 shares in the quarter, for a total of 362,104 shares, and has risen its stake in Enterprise Prod Partners (NYSE:EPD).

Among 23 analysts covering Magellan Midstream Partners L.P. (NYSE:MMP), 12 have Buy rating, 3 Sell and 8 Hold. Therefore 52% are positive. Magellan Midstream Partners L.P. had 59 analyst reports since August 7, 2015 according to SRatingsIntel. The company was maintained on Monday, February 6 by Mizuho. The rating was downgraded by Credit Suisse to “Underperform” on Thursday, March 17. On Monday, November 16 the stock rating was initiated by DA Davidson with “Buy”. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Buy” rating by Raymond James on Saturday, August 8. The rating was maintained by Argus Research on Monday, August 10 with “Buy”. The stock of Magellan Midstream Partners, L.P. (NYSE:MMP) earned “Hold” rating by RBC Capital Markets on Sunday, August 27. On Friday, February 2 the stock rating was maintained by Bank of America with “Buy”. UBS downgraded Magellan Midstream Partners, L.P. (NYSE:MMP) on Friday, February 3 to “Neutral” rating. Raymond James upgraded Magellan Midstream Partners, L.P. (NYSE:MMP) on Monday, January 4 to “Strong Buy” rating. The firm has “Neutral” rating given on Friday, February 5 by Credit Suisse.

Investors sentiment is 0.9 in 2017 Q3. Its the same as in 2017Q2. It is without change, as 42 investors sold MMP shares while 161 reduced holdings. only 40 funds opened positions while 142 raised stakes. 134.51 million shares or 2.12% more from 131.72 million shares in 2017Q2 were reported. Gemmer Asset Mgmt Ltd Limited Liability Company accumulated 633 shares. Moreover, Two Sigma Securities Ltd Llc has 0.02% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 3,092 shares. Schroder Invest Group reported 0% stake. Cohen Capital Mngmt has invested 0.69% in Magellan Midstream Partners, L.P. (NYSE:MMP). Hudock Capital Gru Ltd Liability Co accumulated 0% or 26 shares. Ameriprise Incorporated owns 119,568 shares or 0% of their US portfolio. San Francisco Sentry Investment Group Incorporated (Ca) has invested 0.32% in Magellan Midstream Partners, L.P. (NYSE:MMP). Hilton Cap Management Limited Liability Corporation reported 215,421 shares or 2.67% of all its holdings. Hourglass Cap Limited Liability Corporation accumulated 0.16% or 9,200 shares. Envestnet Asset Inc reported 0% stake. Moreover, Covington Inv Advsrs has 0.11% invested in Magellan Midstream Partners, L.P. (NYSE:MMP) for 4,000 shares. Mckinley Mngmt Ltd Liability Co Delaware holds 0.06% of its portfolio in Magellan Midstream Partners, L.P. (NYSE:MMP) for 18,953 shares. Sfmg Ltd Company accumulated 54,117 shares or 0.75% of the stock. Evanson Asset Mgmt Limited Liability Company has 8,790 shares. The New York-based Renaissance Techs Ltd Llc has invested 0.03% in Magellan Midstream Partners, L.P. (NYSE:MMP).

Veritas Investment Management Uk Ltd, which manages about $283.96M US Long portfolio, decreased its stake in Unitedhealth Group (NYSE:UNH) by 3,343 shares to 123,314 shares, valued at $24.15 million in 2017Q3, according to the filing. It also reduced its holding in Microsoft (NASDAQ:MSFT) by 16,254 shares in the quarter, leaving it with 279,236 shares, and cut its stake in Franco (NYSE:FNV).

Among 38 analysts covering Schlumberger Limited. (NYSE:SLB), 31 have Buy rating, 1 Sell and 6 Hold. Therefore 82% are positive. Schlumberger Limited. had 139 analyst reports since July 22, 2015 according to SRatingsIntel. Oppenheimer maintained the shares of SLB in report on Monday, January 25 with “Outperform” rating. The company was maintained on Wednesday, April 26 by Cowen & Co. Howard Weil maintained the stock with “Focus Stock” rating in Monday, January 25 report. The rating was initiated by KLR Group on Monday, December 14 with “Buy”. Societe Generale downgraded the shares of SLB in report on Thursday, April 28 to “Hold” rating. The stock of Schlumberger Limited (NYSE:SLB) earned “Buy” rating by RBC Capital Markets on Tuesday, January 16. On Wednesday, October 21 the stock rating was maintained by Citigroup with “Buy”. The stock has “Buy” rating by Jefferies on Thursday, January 4. On Thursday, May 12 the stock rating was downgraded by Howard Weil to “Sector Ourperform”. The firm has “Buy” rating by Piper Jaffray given on Friday, October 20.

Since October 24, 2017, it had 0 buys, and 3 selling transactions for $8.09 million activity. Shares for $1.96M were sold by Guild Howard. On Tuesday, October 24 the insider SANDVOLD TORE I sold $219,205.

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