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NEW YORK (TheStreet) -- Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways for today's trading.
Occidental Petroleum (OXY) - Get Report : With oil prices on the rise, which oil stocks should investors be considering? Cramer recommended Occidental, a stock he owns for his charitable trust, Action Alerts PLUS.
Cramer said Occidental's stock most closely tracks the price of crude among the major oil producers and it also sports a hefty 4% dividend yield that offers some downside protection.
In the balancing act that is high growth versus a strong balance sheet, Cramer said Occidental sits comfortably in the middle. The company still has a solid balance sheet, but also offers above-average growth potential, thanks to it's high quality assets in all of the world's most lucrative oil fields.
Occidental is also shareholder friendly, with 15 years of dividend raises. The company recently purchased 113 million shares of its own stock, which equates to nearly 4% of all shares outstanding.
Cramer said he's not recommending investors buy this stock right now because oil may be heading lower in the near term. But as the stock price falls, Occidental is among the most attractive in the oil patch and certainly one he's consider accumulating as it goes lower.
Cramer said that while CytomX has promising prospects, it's simply too early to invest in this early-stage biotech. He said calling the company's products a pipeline is a stretch because it doesn't have any drugs in Phase I testing yet, only pre-clinical trials.
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At the time of publication, Cramer's Action Alerts PLUS had a position in OXY.