5 Best Oil Stocks to Buy Now Amid the US-Iran Conflict

3. SLB N.V. (NYSE:SLB)

Stock Upside Potential: 20.94%

Year to Date Gain: 42.49%

Number of Hedge Fund Holders: 74

SLB N.V. (NYSE:SLB) is one of the best oil stocks to buy now amid the US-Iran Conflict. On May 11, analysts at Bernstein SocGen Group reiterated an Outperform rating on SLB N.V. (NYSE:SLB) and raised the price target to $71 from $56.10.

The price target hike comes amid expectations that the company is well-positioned to achieve long-term growth of 3.5%, up from the previously expected 2%. Bernstein SocGen expects the company to achieve higher growth rates owing to SLB’s strong record of high research and development spending, which drives high profit margins.

SLB’s steady investment in research and development—including during downturns—has contributed to higher profits and enabled the company to scale new technologies, as shown by growth in its data center business over the past two years.

The company successfully navigated the first quarter despite the Middle East conflict affecting its operations. It achieved a 3% year-over-year increase in revenue, totaling $8.72 billion. However, net income attributed to shareholders fell 6% to $752 million.

SLB N.V. (NYSE:SLB) (formerly Schlumberger) is an oilfield services and technology company. It provides equipment, software, and services to the global energy industry—primarily focusing on drilling, reservoir performance, production systems, and carbon capture technologies.