Schlumberger Limited. (NYSE:SLB) is one of the best, big oil and gas plays at the moment. Up over 16% year-to-date, one group of money managers is partially responsible for driving these gains.
To many market players, hedge funds are seen as useless, outdated investment vehicles of a period lost to current times. Although there are more than 8,000 hedge funds with their doors open currently, this site aim at the leaders of this group, close to 525 funds. It is assumed that this group controls the lion’s share of the hedge fund industry’s total capital, and by monitoring their best investments, we’ve determined a number of investment strategies that have historically beaten Mr. Market. Our small-cap hedge fund strategy outstripped the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have topped the S&P 500 index by 33 percentage points in 11 months (explore the details and some picks here).
Equally as necessary, optimistic insider trading sentiment is a second way to look at the financial markets. Obviously, there are many incentives for an upper level exec to sell shares of his or her company, but only one, very obvious reason why they would behave bullishly. Several academic studies have demonstrated the impressive potential of this tactic if shareholders know where to look (learn more here).
Now that that’s out of the way, we’re going to study the recent info about Schlumberger Limited. (NYSE:SLB).
What have hedge funds been doing with Schlumberger Limited. (NYSE:SLB)?
At the end of the second quarter, a total of 63 of the hedge funds we track were long in this stock, a change of 11% from the first quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a select group of notable hedge fund managers who were boosting their stakes considerably.
When using filings from the hedgies we track, Fisher Asset Management, managed by Ken Fisher, holds the biggest position in Schlumberger Limited. (NYSE:SLB). Fisher Asset Management has a $292.9 million position in the stock, comprising 0.8% of its 13F portfolio. The second largest stake is held by Steven Cohen of SAC Capital Advisors, with a $208.1 million position; 1.1% of its 13F portfolio is allocated to the company. Other hedgies with similar optimism include Phill Gross and Robert Atchinson’s Adage Capital Management, Jason Capello’s Merchants’ Gate Capital and Jim Simons’s Renaissance Technologies.
Consequently, certain bigger names were leading the bulls’ herd. Fisher Asset Management, managed by Ken Fisher, assembled the most valuable position in Schlumberger Limited. (NYSE:SLB). Fisher Asset Management had 292.9 million invested in the company at the end of the quarter. Steven Cohen’s SAC Capital Advisors also made a $208.1 million investment in the stock during the quarter. The other funds with new positions in the stock are Phill Gross and Robert Atchinson’s Adage Capital Management, Jason Capello’s Merchants’ Gate Capital, and Jim Simons’s Renaissance Technologies.
What do corporate executives and insiders think about Schlumberger Limited. (NYSE:SLB)?
Insider buying is particularly usable when the company we’re looking at has experienced transactions within the past 180 days. Over the latest six-month time frame, Schlumberger Limited. (NYSE:SLB) has seen zero unique insiders purchasing, and 4 insider sales (see the details of insider trades here).
We’ll also examine the relationship between both of these indicators in other stocks similar to Schlumberger Limited. (NYSE:SLB). These stocks are FMC Technologies, Inc. (NYSE:FTI), Cameron International Corporation (NYSE:CAM), Baker Hughes Incorporated (NYSE:BHI), National-Oilwell Varco, Inc. (NYSE:NOV), and Halliburton Company (NYSE:HAL). This group of stocks are the members of the oil & gas equipment & services industry and their market caps resemble SLB’s market cap.