Bill Gates’ 5 Stock Picks with Huge Upside Potential

4. Schlumberger Limited (NYSE:SLB)

Value of Bill & Melinda Gates Foundation Trust’s 13F Position: $2.74 million

Analysts’ Average Upside Estimate: 34.3%

Schlumberger Limited (NYSE:SLB) is another oil and gas company that Bill Gates owns a small position in, with his Trust adding a 47,005-share position in the company to its 13F portfolio during Q3. Like Chevron, Schlumberger is also undertaking several green initiatives, including carbon capture, improved energy storage, and optimized lithium production.

Analysts are slightly more bullish on Schlumberger Limited (NYSE:SLB) than Chevron right now, while hedge funds prefer the latter. Barclay’s raised its price target on SLB to $77 from $75 in October and has an ‘Outperform’ rating on the stock. The firm believes Schlumberger is best positioned to capitalize on the current cycle as it expands more heavily into offshore drilling. Bank of America has a ‘Buy’ rating on Schlumberger and thinks the company will do well as upstream spending increases on longer-cycle projects.

The Alger Spectra Fund notes that Schlumberger Limited (NYSE:SLB) is growing its international market share in the fund’s Q3 2023 investor letter:

“Schlumberger Limited (NYSE:SLB) provides technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. During the period, shares contributed to performance driven in large part by higher oil prices and strong fiscal second quarter earnings results. Within its quarterly report, the company highlighted growing momentum in international offshore markets that reflected market share gains as well as solid end market activity, leading to strong profit margins and healthy free cash flow generation, in our view.”