Jim Cramer says that while oil stocks are something of a "trading story" right now, here are four names in the sector that he told members of his Action Alerts PLUS club for investors that likes -- and that he owns in his charitable trust:
(APA) - Get Report
Cramer said this week in an exclusive call for AAP members that he likes Apache Corp. because of the oil firm's recent Alpine High shale-oil discovery in West Texas. "Alpine High [is] going to be every bit as big as we had hoped," he said.
The stock-picker said his charitable trust bought a lot of APA below $50 and might temporarily trim some back because APA is up around $51 a share. "But I also want to have the room if it comes back to the mid-$40s to buy it [again]," Cramer said.
He plans to add to his trust's existing XEC stake if the name drops down to $115 from its current $117.60 or so.
He added that Magellan Midstream also offers about a 4.75% yield.
Add in the fact that SLB currently yields about 2.8% and Cramer said he wants to increase his charitable trust's Schlumberger stake if the name pulls back to around $70. Schlumberger closed on Friday at $71.75.
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Editors' pick: Originally published May 19.
, which Cramer co-manages as a charitable trust, is long APA, XEC, MMP and SLB.