Jim Cramer said on Mad Money that SLB, formerly Schlumberger, is 'by far the best there is' in the oil services industry. Speaking after the company's investor day meeting in New York, Cramer highlighted SLB's rapidly growing digital business, which accounted for roughly 7% of revenue last year but carries higher margins than the rest of the company. He described it as a modern growth business within the 100-year-old institution, while also noting that peace prospects in the Middle East are putting pressure on crude prices.
SLB N.V.Cramer highlights SLB's rapidly growing digital business with higher margins, a positive technology development.
Schlumberger NVCramer highlights SLB's rapidly growing digital business with higher margins, a positive technology development.