We recently published 10 Stocks On Jim Cramer’s Mind As He Discussed A “Weird Number”. Schlumberger Limited (NYSE:SLB) is one of the stocks Jim Cramer recently discussed.
Schlumberger Limited is one of the biggest oil and gas equipment providers in the world. Its shares have lost 8% year-to-date as they have yet to recover from the devastating 24% dip in April after President Trump announced his Liberation Day tariffs. However, Schlumberger Limited’s shares have gained 4.5% over the past month as the firm has benefited from a robust second-quarter earnings report, which saw its $8.6 billion in revenue and $0.74 in earnings beat analyst estimates of $7.3 billion and $0.72.Cramer discussed Schlumberger Limited in the context of the oil industry and oil prices:
“But not as many as you would think. I mean, look, oil and gas, you would think that would be terrible with oil in the 60s, they’re doing pretty well. Well, Schlumberger [has] a hard time. . .But then, out of nowhere, you get this LNG deal. And you say, wow, I mean there’s an industry that’s got customers for the rest of its duration.”
Previously, Cramer was quite bearish on Schlumberger Limited as he advised a viewer to simply keep watching the stock:
“Keep watching, no pull trigger. Why? Because I do not like the oil stocks. I don’t need them, don’t want them.”
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This article is originally published at Insider Monkey.
