Jim Cramer Says WPX Energy Looks Interesting as a Spec Play

TheStreet's Jim Cramer says WPX Energy is a company that might be worth buying on spec.
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TheStreet's Jim Cramer says WPX Energy (WPX) is a company that might be worth buying on spec. Cramer likes what the company has done with asset sales and cost cutting, and said it's a better play than Chesapeake Energy (CHK). Cramer does caution that the market is still flooded with oil. Cramer is portfolio manager of the Action Alerts PLUS, which owns Occidental (OXY). Cramer likes the stock because it pays a dividend, and he also likes Exxon (XOM) and Chevron (CVX), and Schlumberger (SLB). But Cramer said you must be careful owning even those stocks if the short squeeze in oil ends. He also discussed the impact of equity offerings from energy companies like Newfield Exploration (NFX). TheStreet's Rhonda Schaffler has details from the New York Stock Exchange.