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Jim Cramer's Mad Dash: XOM GM

NEW YORK ( TheStreet) -- Exxon Mobil (XOM - Get Report) is hosting its analyst meeting Wednesday. TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said the oil giant doesn't have enough growth. 

"People want growth," which a company like Continental Resources (CLR), provides, Cramer said. 

Going one step further, he pointed out Exxon's stock would not have moved from $85 to $95 if it wasn't for some help from Warren Buffett, who took a position in the stock.

Buffett does not concern himself with short-term problems but focuses on long-term opportunities, Cramer noted. If that's the case, Exxon Mobil must have a 50-year plan. Exxon also returns a lot of cash to shareholders in the form of share buybacks and dividend payouts. 

Turning to the automotive space, Cramer really likes General Motors (GM - Get Report). The Action Alerts PLUS name looks like it's "going to break out here," he said. Cramer said the company actually benefits from a rising interest rate environment because it cuts down on its pension obligations. 

He added CEO Mary Barra will be able to put vehicle recalls behind the company while finding continued success in China. Cramer also likes the 3.2% dividend yield. After falling nearly 10% for the year to date, Cramer advised investors to "buy GM right here." 

-- Written by Bret Kenwell in Petoskey, Mich.

At the time of publication, Cramer's Action Alerts PLUS had a position in GM.

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