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Cramer: Hess Making Right Decisions

Jim Cramer:

Yeah. Right. They're getting out of stuff that has a very low rate of return that looks like, I don't think it's going to come back. It's not like they have pipeline laid from the Bakken to the East. We're going to see a lot of this. They've got the wrong terminals in the wrong places, getting the wrong oil. They're not getting American oil. You need refineries in Eagle Ford and you need refineries near the Bakken. And Hess had the exact opposite and that's why they had to do this.

Debra Borchardt:

All right. Well, sometimes it takes a company to make some tough decisions, cut the things out that aren't working, and that's what looks like is happening with Hess. Jim thinks it could go to $70.

Jim Cramer:

Yep.

--Written by Debra Borchardt in New York.



>To contact the writer of this article, click here: Debra Borchardt.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
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