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:

Weatherford: "Weatherford we don't need when we are up against Schlumberger. Halliburton where they got a great President by the way of the Western hemisphere. I want to say that you should buy Schlumberger."

STMicroelectronics: "It's a very inexpensive stock. It's had a big move as of late. I was surprised to see that stock all the way up at $9. but Marvell had a big move, too. I am going to bless it because that group is red-hot. Look at Micron. Look at AMD. Holy cow!"

Applied Materials: "I think that people were mildly disappointed with AMAT. I think they're wrong with the quarter tonight. I think AMAT is in real good shape. I think it's a real sweet spot. I do like Novellus more than AMAT. I have to tell you though, every day I am stunned by the action of stocks like Goldman Sachs, Morgan Stanley. That is where the action is."

AdvanSix Inc: "AdvanSix could be a buy. I don't know. Remember, I do like the stock of Arconic, which is a spinoff."

Murphy Oil Corp: "I like Murphy Oil. I'm not going to be against it. I do think the fossil fuels will have a rally under President Trump. I think it's going to be a bit of a bust, the OPEC meeting. But I think that there is good demand underneath, particularly from China."

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