8 Best Bargain Stocks To Buy in October

Page 7 of 7

1. Schlumberger Limited (NYSE:SLB)

Forward P/E as of September 28, 2024: 12.09

Analyst Upside Potential as of September 28, 2024: 53%

Number of Hedge Fund Holders: 67

Schlumberger Limited (NYSE:SLB) is a technology company in the energy sector. It provides a range of solutions to aid the exploration and development of oil and gas. It has operations across 120 countries.

The company is committed to fueling innovation across the industry, reaching net-zero targets, and creating a balanced planet. For the past 80 years, the company has been supporting the delivery of sustainable energy in Africa. In addition to that, Schlumberger Limited (NYSE:SLB) makes up 80% of the world’s geothermal projects. As of today, the company has over 13,000 active patents and more than 65 research and development centers.

Schlumberger Limited (NYSE:SLB) is one of the best bargain stocks to buy and we say that because of its solid partnerships with large entities. On September 19, the company collaborated with NVIDIA to make AI solutions for companies in the energy sector across the lines of exploration, operations, and data management. In addition to that, on September 18, the company partnered with Aramco to prevent greenhouse gas emissions in the industrial sector.

Schlumberger Limited (NYSE:SLB) is not only trading at a bargain but it is also set to benefit from the technology and AI wave. At the moment, the company is advancing in the production of robotic inspections and innovative energy systems.

Overall, SLB ranks first among the 8 best bargain stocks to buy in October. While we acknowledge the potential of technology companies in the energy industry, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than SLB but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: $30 Trillion Opportunity: 15 Best Humanoid Robot Stocks to Buy According to Morgan Stanley and Jim Cramer Says NVIDIA ‘Has Become A Wasteland’.

Disclosure: None. Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily e-newsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below.

Page 7 of 7