Top 5 Oil and Gas Stocks To Invest In According To Hedge Funds

In this article, we discuss top 5 oil and gas stocks to invest in according to hedge funds. If you want to read our discussion on the energy industry, head over to Top 12 Oil and Gas Stocks To Invest In According To Hedge Funds. 

5. Schlumberger Limited (NYSE:SLB)

Number of Hedge Fund Holders: 65

Schlumberger Limited (NYSE:SLB) is a global energy technology provider operating worldwide. The company is organized into four divisions – Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. Schlumberger Limited (NYSE:SLB) is one of the best energy stocks to buy. On January 19, Schlumberger Limited (NYSE:SLB) reported a Q4 non-GAAP EPS of $0.86 and a revenue of $8.99 billion, topping Wall Street estimates by $0.03 and $50 million, respectively. 

According to Insider Monkey’s third quarter database, 65 hedge funds were bullish on Schlumberger Limited (NYSE:SLB), compared to 60 funds in the prior quarter. Rajiv Jain’s GQG Partners is the biggest stakeholder of the company, with approximately 36 million shares worth $2 billion. 

Alger Spectra Fund made the following comment about Schlumberger Limited (NYSE:SLB) in its 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.”