During CNBC's "Cramer's Stop Trading" segment, Cramer, the co-portfolio manager of Action Alerts PLUS, said the company's secondary offering of six million shares at $109 each will show whether there is the appetite for oil company stocks, he said.
Cimarex is "an excellent company" with oil fields in the mid-continental U.S. "They have Permian. I believe in Permian," he said of the shale-rich Permian Basin.
"I know that's opposite of what (hedge fund investor) David Einhorn says," Cramer said. "Well, just call me skeptical of Einhorn. Don't call me skeptical of Cimarex."