Devon Energy is “not done going up,” Cramer said during Wednesday’s Stop Trading!.
Devon , much like Apache and XTO Energy , is generating “monumental” growth, and the company reported “much better than expected” earnings for its most recent quarter. With natural gas breaking through $4 and hurricane season on the way, DVN’s outlook seems positive.
“If this is what kind of money they can make with natural gas at $3.80,” Cramer said, “what can they make at $5?”
Cramer also recommended Transocean . While the company missed the Street’s earnings expectations when it reported second-quarter numbers on Wednesday, Cramer blamed “one-time problems” that “are going to be solved.” RIG should recover, he said, especially because he expects oil prices will hold.
“I think the stock should be bought,” Cramer said.
Cramer's charitable trust owns Devon Energy.
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