5 Stocks That Rebounded This Week

2. Schlumberger Limited (NYSE:SLB)

Number of Hedge Fund Holders: 64

Shares of Schlumberger Limited (NYSE:SLB) climbed more than 20 percent this week following a recent recovery in crude oil prices. The stock has performed well this year, rising nearly 40 percent on a year-to-date basis.

Much of that gain is linked to a sharp spike in oil prices this year. Many expect Schlumberger Limited (NYSE:SLB) to continue its outperformance in the near term amid solid demand for oil and gas.

For instance, Piper Sandler expressed optimism about the growth prospects of Schlumberger Limited (NYSE:SLB), citing a long-term value in the energy sector. The research firm issued an “Overweight” rating and a price target of $50 per share for the stock on Friday, October 7.