10 Best Affordable Stocks To Buy Right Now

5. Schlumberger Limited. (NYSE:SLB)

Forward P/E Ratio as of September 16: 9.73

Number of Hedge Fund Holders: 67

Schlumberger Limited (NYSE:SLB), a global leader in energy technology, operates across four key divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems.

In the second quarter of 2024, Schlumberger Limited (NYSE:SLB) exceeded expectations with adjusted earnings per share of $0.85 and an adjusted EBITDA margin of 25%. The company also saw a 5% quarter-over-quarter revenue growth across all regions, highlighting its strong international presence. Following the earnings report, TD Cowen raised SLB’s price target to $64, maintaining a Buy rating, while RBC Capital and Citi kept their respective targets at $69 and $62.

Additionally, Schlumberger Limited (NYSE:SLB) successfully demonstrated its sustainable lithium production technology at a Nevada plant, achieving a 96% lithium recovery rate from brine. However, its $7.75 billion acquisition of ChampionX has faced delays due to a second request for information from the U.S. Department of Justice.

At the close of the second quarter, 67 hedge funds held stakes in Schlumberger Limited (NYSE:SLB), with a combined value exceeding $15.08 billion.