Jim Cramer on Schlumberger: “I Do Not Like the Oil Stocks”

Schlumberger Limited (NYSE:SLB) is one of the stocks that Jim Cramer shed light on. When a caller mentioned that they have been watching the stock, Cramer commented:

“Keep watching, no pull trigger. Why? Because I do not like the oil stocks. I don’t need them, don’t want them.”

Jim Cramer on Schlumberger: "I Do Not Like the Oil Stocks"

An aerial view of a well site, depicting the scale of oil and gas operations.

Schlumberger (NYSE:SLB) provides technology and services for the energy industry, including exploration, well construction, production optimization, and carbon management. The company also offers drilling tools, reservoir analysis, hydraulic fracturing, and subsea production systems for oil and gas operations. In a June episode, Cramer was bearish on the sector and mentioned the stock, as he said:

“You know what? Look, it’s the best house in a bad neighborhood and we don’t want to be in bad neighborhoods and I’m so sorry, really great company, but I don’t want to recommend the stock.”

While we acknowledge the risk and potential of SLB as an investment, our conviction lies in the belief that some 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 and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.