Jim Cramer’s 5 Favorite Energy and Bank Stock Picks

4. SLB (NYSE:SLB)

Number of Hedge Fund Holders: 63

SLB (NYSE:SLB) is one of Jim Cramer’s favorite energy stock picks from the oil services sector. Cramer said that “SLB (NYSE:SLB) reported a nice top and bottom line” in Q4 2022. Although the company’s cash flow was a “little light”, Cramer noted that the company also gave “a 43% dividend boost”.

On January 20, SLB (NYSE:SLB) posted strong earnings for the fourth quarter of fiscal 2022. The company reported an EPS of $0.71 and beat EPS estimates by $0.03. The company reported a revenue of $7.88 billion, up 26.57% year over year and ahead of Wall Street consensus by $83.17 million. The company also declared a quarterly cash dividend of $0.25 per share, up 42.9% from its prior dividend of $0.17. The dividend is payable on April 6 to investors of record on February 8. As of February 3, SLB (NYSE:SLB) is offering a forward dividend yield of 1.80%.

This January, HSBC analyst Abhishek Kumar raised his price target on SLB (NYSE:SLB) to $75 from $56.80 and maintained a Buy rating on the shares.

At the end of Q3 2022, 63 hedge funds were long SLB (NYSE:SLB) and held stakes worth $2.44 billion in the company. As of December 31, Bourgeon Capital is the leading shareholder in SLB (NYSE:SLB) and has a position worth $7.38 million in the company.