10 Best American Energy Stocks To Buy According to Hedge Funds

4. Schlumberger Limited (NYSE:SLB)

Number of Hedge Fund Holders: 65

Schlumberger Limited (NYSE:SLB) is the top oilfield services provider in the world based on market share, making it one of the best American stocks to buy from the energy sector. Even though the market is largely fragmented, SLB is in the first or second place of competitors in many of the distinct oligopolies in which it works. The business was established in 1926 by two brothers with the same last name and is also known as Schlumberger. It is primarily recognized today as a global leader in innovation, and it concentrates its strategy on its three growth engines: new energy, digital, and core businesses. International markets account for more than three-quarters of the company’s sales, and its digital revenue alone exceeds $1 billion.

In Q3 of 2024, Schlumberger Limited (NYSE:SLB)’s revenue grew by 10% to $9.16 billion YoY. Growth was driven by Production Systems, which saw a 31% YoY increase in revenue to $3.1 billion. Revenue from digital and integration increased 11% YoY due to the growing use of AI-powered tools and digital solutions. Europe & Africa and the Middle East & Asia both saw 16% YoY revenue increases, leading regional growth. North America’s YoY growth stayed at 3%.

Schlumberger Limited (NYSE:SLB) expanded its digital offering by launching the Lumi AI platform and forming partnerships with NVIDIA, AWS, and Aramco.

Despite cautious upstream investing in the face of declining oil prices, Schlumberger Limited (NYSE:SLB) is nonetheless enthusiastic about long-term foreign projects. The business reiterated its goal of having an adjusted EBITDA margin of at least 25% for the entire year.

Jean-Marie Eveillard’s First Eagle Investment Management was the largest stakeholder in the company from among the funds in Insider Monkey’s database. It owns 27.5 million shares worth $1.15 billion as of Q3.