5 Best Crude Oil Stocks To Buy As Tensions Rise

In this article, we discuss the 5 best crude oil stocks to buy as tensions rise. To read our analysis of the current crude oil market situation, go directly to the 12 Best Crude Oil Stocks To Buy As Tensions Rise.

5. Schlumberger Limited (NYSE:SLB)

Number of Hedge Fund Holders: 60

Schlumberger NV, commonly referred to as SLB or Schlumberger Limited (NYSE:SLB), is a prominent oilfield services company that offers advanced technology solutions for reservoir characterization, drilling, production, and processing to the oil and gas sector. The company is a comprehensive provider of products and services to the industry, spanning from exploration and production to integrated pipeline solutions designed to enhance hydrocarbon recovery.

In the third quarter, Schlumberger Limited (NYSE:SLB)’s international revenue experienced a 12% increase, reaching $6.6 billion compared to the same period the previous year. North America’s revenue also saw a 6% increase, although it declined sequentially due to reduced drilling activity in the onshore U.S. and the Gulf of Mexico. The company’s net income, excluding exceptional items, amounted to $0.78 per share for the three months ending on September 30, slightly surpassing the average analysts’ estimate of $0.77 per share.

A total of 60 hedge funds out of the 910 funds tracked by Insider Monkey were long Schlumberger Limited (NYSE:SLB). The most significant stakeholder of Schlumberger Limited (NYSE:SLB) was Rajiv Jain’s GQG Partners which had a $1.7 billion stake in the company.

VGI Partners made the following comment about Schlumberger Limited (NYSE:SLB) in its 2022 annual investor letter:

“In addition to defence, we have focused our efforts on other new sectors where we see structural growth, including energy and medical technology. The long-term outlook for energy looks highly attractive given many years of under-investment and more recently amplified by ESG constraints and corporate discipline. Although we reviewed commodity owners (where we leveraged the expertise of the Regal resources team), we focused our efforts on the second derivative – the oil service companies. These are the picks-and-shovels of the industry and arguably the highest-quality way to gain exposure. As a result, we invested in Schlumberger Limited (NYSE:SLB) earlier this year and grew this to a circa 8% weight during the year (now circa 3%)”