NEW YORK (TheStreet) -- On his CNBC Stop Trading! segment Thursday, Jim Cramer said "I'm not confident anymore" that it makes financial sense to explore for natural-gas-rich shale.
"The president is focused on oil and coal," he said.
Nevertheless, Cramer said,
CEO Jim Mulva has indicated that he wants to go after lots of natural gas. The company bought oil-and-gas producer Burlington Resources in 2006.
Cramer said that though Mulva "runs a great company," it's not growing as fast as Cramer would like. Still, he said, he likes that ConocoPhillips is "pro-shareholder."
Plus, Mulva will be truthful about where the price of oil is going. "He doesn't hedge."
Carmer also added that "Conoco is not alone in pushing towards gas."
The markets turned higher on Thursday, and shares of oil and natural gas company
, surged along with it. The stock also made gains Wednesday after the company hiked its production forecasts and said it expected to take advantage of newly-discovered crude oil resources, while somewhat shifting away from natural gas properties.
EOG was the first stock that Cramer analyzed Wednesday, noting that the company recently "went and gave a presentation," and the audience "ate it up, and then some."
-- Reported by Andrea Tse in New York
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