Top 5 Oil Stocks To Buy Right Now

1. Schlumberger Limited (SLB)

Number of Hedge Funds: 53

Total Value of Hedge Fund Holdings: $1.03 billion

Fourth Quarter Return: 48.3%

Notable Hedge Fund Holders: Ken Fisher

Multiple insiders have been buying SLB shares throughout 2020. One insider paid as low as $13.77. SLB shares currently trade above $22 and returned 48% so far in Q4. The stock was trading above $40 earlier this year, so it still has a long way to go to capture its 2020 losses. Here is what First Eagle said about SLB in its Q3 letter:

“Oilfield services giant Schlumberger struggled to gain traction following the initial pandemic-related selloff of the first quarter. The company has been aggressive in cutting costs in response to the difficult operating environment; it has slashed about 25% of its workforce, reduced its dividend and sold off assets, including its North American hydraulic fracking business. We see Schlumberger’s financial strength and dominant market position as sources of resilience that may potentially enable it to respond positively if and when oil prices rebound.”

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