5 Oil and Gas Stocks to Buy According to Ray Dalio

4. Schlumberger Limited (NYSE:SLB)

Number of Hedge Fund Holders:64

Schlumberger Limited (NYSE:SLB) is an oilfield service and equipment company. It is the world’s largest offshore drilling company. The company has a 0.16% concentration in Bridgewater Associates’ portfolio with 1.086 billion shares worth $32.85 billion. The fund made 171% of additional purchases of Schlumberger Limited (NYSE:SLB) in the second quarter.

On July 22, Schlumberger Limited (NYSE:SLB) posted its Q2 2022 results and raised its guidance. The company recorded an EPS of $0.50, compared to the $0.40 consensus. Furthermore, the company reported a 20.2% revenue growth on a YoY basis to $6.77 billion, outperforming the estimates by $490 million. The company expects full-year revenue of at least $27 billion for 2022, while the consensus stands at $26.2 billion and sees a 200 bps increase in adjusted EBITDA margins at the end of the fourth quarter.

The day Schlumberger Limited (NYSE:SLB) posted its Q2 earnings reports, the company also declared a quarterly dividend of $0.175 per share payable on October 13 for shareholders of record on September 7. As of August 18, the company has a dividend yield of 1.97%.