It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on callers' favorite stocks at rapid speed:
Chesapeake Energy: "Chesapeake needed either hotter weather this summer or much colder weather in the winter than it got, and that's why that stock's at $3. It is a weather play. It's just really a chit on the weather, and the weather didn't go Chesapeake's way."
Enterprise Products Partners: "The yield's too high, meaning that it's a bargain, but you see, the problem is that ETP, Energy Transfer [Partners], is destroying that whole group. It's the biggest one. It's pushing every singly one of them down, including EPD."
Core Laboratories: "It's acted very poorly and it's in the oil and gas business and I am not recommending that anyone buy anything in the oil and gas business."
New Relic: "Somebody downgraded it last week. You know we think that [CEO] Lew Cirne is terrific. I'm a buyer of that stock, not a seller. I think New Relic's good."