Here is What Hedge Funds Think About Schlumberger Limited. (SLB)

As aggregate interest increased, some big names have been driving this bullishness. Soros Fund Management, managed by George Soros, assembled the most valuable position in Schlumberger Limited. (NYSE:SLB). According to its latest 13F filing, the fund had $67.7 million invested in the company at the end of the quarter. Jorge Paulo Lemann’s 3G Capital also made a $27.6 million investment in the stock during the quarter. The following funds were also among the new SLB investors: Daniel S. Och’s OZ Management, Larry Foley and Paul Farrell’s Bronson Point Partners, and Malcolm Fairbairn’s Ascend Capital.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Schlumberger Limited. (NYSE:SLB) but similarly valued. These stocks are Kraft Heinz Co (NASDAQ:KHC), Celgene Corporation (NASDAQ:CELG), Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU), and QUALCOMM, Inc. (NASDAQ:QCOM). This group of stocks’ market valuations are closest to SLB’s market valuation.

As you can see these stocks had an average of 50 hedge funds with bullish positions and the average amount invested in these stocks was $8.57 billion. In the case of SLB, that figure stood at $2.65 billion. QUALCOMM, Inc. (NASDAQ:QCOM) is the most popular stock in this table, while Mitsubishi UFJ Financial Group Inc (ADR) (NYSE:MTU) is the laggard with only 12 bullish hedge fund positions. While Schlumberger Limited. (NYSE:SLB) is not the most popular stock in this group, hedge fund interest is still above average. This is a slightly positive signal, but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard QCOM might be a better candidate to consider a long position.