Jim Cramer on SLB: "Very Positive Outlook When They Reported Recently"

SLB N.V. (NYSE:SLB) is one of the noteworthy S&P 500 stocks Jim Cramer highlighted. Cramer highlighted that while the President’s “drill baby, drill” policy could be bad for the oil producers, it could be “great for the oil service industry,” as he stated:

At number nine on the list of January’s top performers is SLB. Yeah, that’s the old Schlumberger. It gained 26% last month. Now, the oil service titan [is a] good proxy for the broader energy sector, typically. I’ve been skeptical on all things oil because Trump’s drill baby, drill policy, generally bad news for energy prices. That’s what we saw in 2016. It was the right call last year. But in 2026, we’ve already seen partial regime change in Venezuela and the threat of military action in Iran, so oil prices have firmed up.

Meanwhile, natural gas prices soared in response to the cold snap across most of the country, but they gave up a lot today. I’m honestly not sure how much to trust this energy rally. Today, oil prices fell after some calming Iran talk over the weekend, and nat-gas prices are quickly falling as well. But I will say this: if any energy stock has staying power, it could be SLB. Drill baby, drill may be bad for the oil producers, but it’s great for the oil service industry, right? Because that means you’re going to find more properties to drill. And I’ve guessed SLB could be in Venezuela big for all we know. Very positive outlook when they reported recently.

SLB N.V. (NYSE:SLB) provides technology and services for the energy sector. It offers solutions in field development, hydrocarbon production, carbon management, and energy system integration. The company delivers well construction, reservoir evaluation, drilling, and production optimization technologies.

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