Shares of Pioneer Natural Resources (PXD - Get Report) are up 3% Thursday after the company beat on earnings per share estimates.

"If oil were going up this stock would be flying," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Stop Trading" segment.

The company raised its oil production guidance, saying it is adding more rigs to its lineup in order to pump more oil. Pioneer is in the "sweet spot," Cramer said, because it is currently making $8 per barrel in profit pumping from current wells.

He turned to Groupon (GRPN - Get Report) , calling the stock a buy despite its 24% rally on the day. Shares at one point were up more than 30%.

The company beat on earnings per share and revenue expectations and raised its full-year outlook for Ebitda and sales to above-consensus figure.

Groupon has $780 million in cash and market cap of only $2.2 billion, Cramer said, adding, "it was the quarter I had been waiting for." He suggested that GrubHub (GRUB - Get Report)  -- which is flying higher by more than 20% after record revenue and an EPS beat of its own -- should acquire Groupon.

At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.