5 Best Energy Stocks To Invest In According to Analysts

1. Schlumberger Limited (NYSE:SLB)

Average Analyst Price Target as of April 11: $66.27

Average Upside Potential as of April 11: 29.59%

Number of Hedge Fund Holders: 67

At the close of the fourth quarter of 2022, 67 hedge funds were long Schlumberger Limited (NYSE:SLB) and held positions worth $4.66 billion in the company. Of those, First Eagle Investment Management was the top shareholder in the company and held a position worth $1.47 billion in the company.

On April 3, Susquehanna updated its price target on Schlumberger Limited (NYSE:SLB) to $65 from $68 and maintained a Positive rating on the shares. As of April 11, the stock has gained 21.70% over the past 6 months. Schlumberger Limited (NYSE:SLB) is ranked high among the best energy stocks to buy now.

Over the past 3 months, Schlumberger Limited (NYSE:SLB) has received 11 Buy ratings from Wall Street analysts and has a consensus Strong Buy rating. The stock’s average price target of $66.27 represents an upside of 29.59% from its share price on April 11.

VGI Partners made the following comment about Schlumberger Limited (NYSE:SLB) in its 2022 annual investor letter:

“In addition to defence, we have focused our efforts on other new sectors where we see structural growth, including energy and medical technology. The long-term outlook for energy looks highly attractive given many years of under-investment and more recently amplified by ESG constraints and corporate discipline. Although we reviewed commodity owners (where we leveraged the expertise of the Regal resources team), we focused our efforts on the second derivative – the oil service companies. These are the picks-and-shovels of the industry and arguably the highest-quality way to gain exposure. As a result, we invested in Schlumberger Limited (NYSE:SLB) earlier this year and grew this to a circa 8% weight during the year (now circa 3%)”

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