10 Best Jim Cramer Stocks To Buy According to Analysts

2. Schlumberger Limited (NYSE:SLB)

Average Price Target Upside: 43.06%

Number of Hedge Fund Holders: 67

Cramer previously mentioned Schlumberger Limited (NYSE:SLB), saying that the stock did not climb as per his expectations.

“SLB has not gone up nearly as much as I would’ve expected. Given the fact that oil’s up, I would buy the stock right here. It is the best of breed.”

Schlumberger (NYSE:SLB) is a provider of technology and services to the global energy sector, specializing in various aspects of field development, hydrocarbon extraction, and carbon management.

On October 18, the company reported its third-quarter results, with revenue of $9.16 billion, which remained stable compared to the previous quarter and marked a 10% increase year-over-year. The company’s GAAP earnings per share reached $0.83, showing an 8% rise sequentially and a 6% increase from the same period last year. A significant development for the company was the acquisition of Aker’s subsea business, which occurred in the fourth quarter of 2023 as part of the establishment of the OneSubsea joint venture. It contributed revenue of $532 million during the third quarter of 2024.

Additionally, Schlumberger (NYSE:SLB) reported cash flow from operations of $2.45 billion for the third quarter and a free cash flow of $1.81 billion. For the entirety of 2024, capital investments, which include capital expenditures, exploration data costs, and APS investments, are projected to remain around $2.60 billion, consistent with the level seen in 2023.