It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:

Southwestern Energy Company: "You are buying it betting that it's going to get real hot this summer because the fact is, it did not work this year because it was just too hot in the winter. And that's why that stock has gone down along with the whole group."

NetApp: "It had a monster quarter and I think the stock can go higher. I really liked that quarter. Everything about it."

Occidental Petroleum: "My charitable trust had to dump the stock. I think it's a really poorly managed company, not the way I remember it. Take it out and shoot it."

Penn National Gaming: "Penn National is very cheap. It's an inexpensive stock. Now I like MGM down here at $26 because I think people have given up on it. I like Penn National Gaming."

Transocean: "Transocean came out again and said they are fine, it's like really a great time and it's the bottom. Give me a break! When Schlumberger says it's the bottom, it's the bottom. Not when those guys do."

Norwegian Cruise Line: "It's an excellent company but I am fortunately so excited about Carnival that I can't get over the Norwegian or Royal. I just think that Carnival is such a great company, so I'm sticking with Carnival."

Coeur Mining: "No, we only recommend Randgold. That is the only one of the miners that we like."

Teekay Offshore: "They're not going to be in the playoffs, let me tell you that. We are not recommending any of those offshore players, particularly that one."

Ferrellgas Partners: "That propane market is really hard to gauge. That is too much. Even the people in propane don't know what's going to happen."

Olin Corporation: "I like chlorine here. It's a buy, buy, buy."

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