Cramer Quick Take: Buying Devon Energy
NEW YORK (TheStreet) -- Jim Cramer told Lindsey Bell at TheStreet that he's fed up with the trading in Devon Energy(DVN) . He said the company is aggressively switching from natural gas to oil production and has signed onto some big joint ventures, all as the price of natural gas is quietly going up.
Cramer called Devon one of the premiere oil and gas players, a growth stock that has somehow become despised by Wall Street. "This isn't Facebook(FB) ," said Cramer, Devon is a real company with real profits and sizable oil and gas properties.
Cramer said frankly, the sellers don't know what they're doing, which is why he's an aggressive buyer of Devon for his charitable trust, Action Alerts PLUS.
Watch the full Cramer interview here.
--Written by Scott Rutt in Washington, D.C.
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