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Analyzing Notable Bearish Calls Made By Jim Cramer

Stocks in this article: BX JCI JCP M PSX SDT VLO

CHRIS LAU, KAPITALL For the week ending April 12 2013, Jim Cramer covered 69 companies, of which he was bearish on 13 of them (or 19%). Since the companies that he was bullish on are up 11.9% from their 200 day moving average, there may be greater value in looking more closely at the companies getting “sell” calls. The companies are:

Screen shot 2013-04-15 at 10.41.07 AM

Unsurprisingly, a number of resource companies were on the bearish list. Valero Energy (VLO), a US refiner, peaked at $48.97 while SandRidge Trust (SDT) is down 50% from highs reached last year. Valero is spinning off CST Brands, a retail unit, through a distribution to its shareholders. CST Brands operates independent gas stations and convenience stores. The unit generates nearly $500 million in earnings for Valero.

[More Investing Ideas:  Bullish Trinity: Insiders and Hedge Funds Love 4 Short Covered Stocks

Phillips 66 (PSX) was another bearish Cramer call. Shares are up nearly 15% in 2013 and are up 33.5% over the last 6 months even with the most recent sell-off. Despite the bearish call, the refiner was cited by Oppenheimer as a buying opportunity.

In the retail sector, JC Penny (JCP) is at a share price that is over 50% off levels from 2012. The company scored a minor victory against Macy’s (M) recently. J.C. Penny will be allowed to sell Martha Stewart (MSO) products under the “Everyday” label. Liquidity is becoming a concern for the company. The company hired Blackstone (BX) to look for ways to raise its cash. J.C. Penny needs to raise $1 billion, to alleviate worries for suppliers.

Last week, the company removed former Apple executive Ron Johnson from the CEO position. 3 former Apple executives that Johnson hired also left J.C. Penny. This includes the Chief Operating Officer, Chief Talent Officer, and Chief Creative Officer.

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