5 Stocks to Buy According to Cheyne Capital

1. Schlumberger Limited (NYSE:SLB)

Cheyne Capital’s Stake Value: $6,079,000
Percentage of Cheyne Capital’s 13F Portfolio: 5.13%
Number of Hedge Fund Holders: 58

Schlumberger Limited (NYSE:SLB) globally offers technologies to the energy sector. Schlumberger Limited (NYSE:SLB) is a dependable option when it comes to dividend payouts to shareholders, as the company has been paying a dividend since 1989. On July 22, the company declared a quarterly dividend of $0.175 per share, in line with previous.

Schlumberger Limited (NYSE:SLB) was raised to ‘Buy’ from ‘Hold’ on July 27 by Benchmark analyst Douglas Becker, who set a $55 price objective. The increase in foreign producer activity and expenditure, as well as his forecast that the firm will hit its 25% EBITDA margin objective one quarter earlier in the third quarter of 2023, were the driving forces behind this decision.

Overall, 58 hedge funds reported owning a stake in Schlumberger Limited (NYSE:SLB) at the end of Q1 2022. This was in contrast to 47 hedge funds holding stakes worth $1.22 billion in Schlumberger Limited (NYSE:SLB) at the end of Q4 2021.

Cheyne Capital initiated a position in Schlumberger Limited (NYSE:SLB) in the second quarter of 2022, purchasing 170,000 shares worth $6.08 million. Jean-Marie Eveillard’s First Eagle Investment Management held roughly 27.08 million shares of Schlumberger Limited (NYSE:SLB), valued at $968.33 million, making it a prominent shareholder of the firm.

ClearBridge Investments mentioned Schlumberger Limited (NYSE:SLB) in its Q2 2021 investor letter. Here is what the fund said:

“Schlumberger is a leading oilfield services company that should enjoy both cyclical and secular opportunities over the next market cycle and beyond. On the cyclical front, after years of declining energy service activity and negative pricing, service activity is increasing modestly and pricing is inflecting higher, which is always the key cyclical driver for energy services stocks. In addition, we expect the Middle East to gain share of oil production as ESG considerations limit upstream investment in other regions. As the dominant service provider in the Middle East, Schlumberger is very well-positioned for this shift. On the secular front, Schlumberger has a rapidly growing digital services capability that helps producers operate much more efficiently and with much less waste, which will be a core ESG focus. Finally, Schlumberger is investing directly, and with partners, in energy transition capabilities such as carbon capture, hydrogen and geothermal that should allow Schlumberger to grow and remain viable well beyond the current energy cycle.”

You can also take a peek at 10 Stocks to Buy According to John Hurley’s Cavalry Asset Management and 10 Stocks to Buy According to Centiva Capital.

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