NEW YORK ( TheStreet) -- I sat down with Jim Cramer to talk about the recent spate of activism in the oil patch, specifically with Hess ( HES) and with Transocean ( RIG).

I believe that activism is a cyclical phenomenon and the energy space has been ripe for activism for some very obvious reasons.

First, the energy sector has badly underperformed the rest of the stock market in the past 18 months, despite an obviously very strong market. This has occurred despite a historically high and sticky price for oil, still well over $100 a barrel globally.

With high oil prices and a rising stock market, investors are looking for their energy companies to outperform -- and are ready to see activist action make that happen if the current management is unable to do it.

That means a call for more restructurings, more divestments, higher dividends, less debt, less capex and bigger share buybacks -- just what are being called for by activist investors Carl Icahn at Transocean and Paul Singer at Hess.

I discuss this trend in greater detail with Jim in the video above.

At the time of publication, Dicker was long CVRR, although positions may change at any time.

Dan Dicker has been a floor trader at the New York Mercantile Exchange with more than 25 years of oil trading experience. He is a licensed commodities trade adviser.

Dan is currently President of MercBloc LLC, a wealth management firm and is the author of "Oil's Endless Bid," published in March of 2011 by John Wiley and Sons.

Dan Dicker has appeared as an energy analyst since 2002 with all the major financial news networks. He has lent his expertise in hundreds of live radio and television broadcasts on CNBC, Bloomberg US and UK and CNNfn.

Dan obtained a bachelor of arts degree from the State University of New York at Stony Brook in 1982.

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