Jim Cramer: Schlumberger Is the Oil Stock to Own

Jim Cramer says if he's going to own an oil stock...he wants it to be the best in breed and that's why he likes oil field services company Schlumberger.
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TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer likes oil field services company Schlumberger (SLB) - Get Report  This is the oil stock owned by his charitable trust, Action Alerts PLUS. He likes Schlumberger over petroleum service company Tidewater (TDW) - Get Report . On Thursday, oil prices crossed $50 a barrel for the first time in seven months, a development Cramer said is positive for the beleaguered American oil industry. Oil markets are looking ahead to next week's OPEC meeting, which may bring additional volatility.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.