NEW YORK (Real Money) -- I have not seen this kind of sustained move in the oils since the early 1980s, when there were oil takeovers pretty much every single week.
Now some of it is certainly the price of crude, which has been up huge because of Iraq. But a lot of it is the organic growth that these companies are exhibiting, much of it accelerating as they begin to drill more holes in tighter spaces.
Even after these runs I am still attracted to Anadarko (APC), Apache (APA), EOG (EOG), Pioneer (PXD), Cimarex (XEC), Continental (CLR), Noble Energy (NBL) and Carrizo (CRZO) because I think, in every case, numbers are too low. I still like Occidental (OXY) for its upcoming restructuring and Marathon Oil (MRO) for its takeout value.
The major oil-services stocks all still have the possibility of further appreciation but I am drawn to the drillers, notably Ensco (ESV) and the boutique specialty plays, notably Basic Energy (BAS) and, at these prices, Core Labs (CLB).These are becoming the stocks to own into the end of the quarter. I like them both for trades and investments. Action Alerts PLUS, which Cramer co-manages as a charitable trust, is long ESV, MRO and APC. Editor's Note: This article was originally published at 4:18 p.m. EDT on Real Money on Friday, June 20. Here's What We Think We Know About the Next iPhone The Truth About Rental Cars and Insurance
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV