Jim Cramer: Ensco Is an Oil Play, Proceed With Caution
Jim Cramer says Ensco's latest 57 million share issue is a chance to buy shares if you understand how oil trades.
TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer says Ensco's (ESV) latest 57 million share issue is a big discount to where they were trading, but he said he would not buy ahead of Sunday's OPEC meeting in Doha, Qatar. Cramer said, 'understand that Doha, if it doesn't work, oil will come down. And, we don't know what's going to happen in Doha and i'm not even going to hazard a guess.'
At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.
