5 Best Natural Gas Dividend Stocks To Buy

3. Schlumberger Limited (NYSE:SLB)

Number of Hedge Fund Holders: 64

Dividend Yield as of October 28: 1.39%

Schlumberger Limited (NYSE:SLB) is a Texas-based company that provides software, information management, and IT infrastructure services to the oil and gas sector. On October 21, Schlumberger Limited (NYSE:SLB) declared a quarterly dividend of $0.175 per share, in line with previous. The dividend is payable on January 12, 2023, to shareholders of record on December 7. Schlumberger Limited (NYSE:SLB) posted Q3 adjusted earnings and revenues that exceeded expectations, as soaring oil and gas prices resulted in more drilling activity.

On October 26, Barclays analyst J. David Anderson raised the price target on Schlumberger Limited (NYSE:SLB) to $62 from $61 and maintained an Overweight rating on the shares following the “strong” Q3 results. 

According to Insider Monkey’s data, 64 hedge funds were bullish on Schlumberger Limited (NYSE:SLB) at the end of June 2022, compared to 58 funds in the prior quarter. Jean-Marie Eveillard’s First Eagle Investment Management is the largest stakeholder of the company, with more than 27 million shares worth $968.3 million. 

Here is what ClearBridge Investments specifically said about Schlumberger Limited (NYSE:SLB) in its Q2 2022 letter:

“We further added to our positioning for the accelerating energy transition with the purchase of Schlumberger Limited (NYSE:SLB), a global provider of oilfield services. As a technology leader, Schlumberger should generate strong free cash flow over the next few years as the industry recovers, using its excess cash to gain market share from smaller players and to expand into new areas of growth. Through its scale, presence, partnerships and technology, Schlumberger is targeting expansion into new large addressable markets such as carbon capture, hydrogen, geothermal and lithium extraction.”