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.”

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.”

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