Buy the dip on ‘best-of-breed stock’ Halliburton, Jim Cramer says

Buy the dip on ‘best-of-breed stock’ Halliburton, Jim Cramer says


CNBC’s Jim Cramer on Wednesday advised investors to buy Halliburton stock while it’s down after a less-than-ideal quarter from industry peer Baker Hughes.

Cramer said that though Halliburton posted “fantastic” results, the stock got hit after rival Baker Hughes posted a bad quarter.

“I think you’ve got to use this rare opportunity to buy a best-of-breed stock on weakness, which is exactly what we did for the Charitable Trust,” the “Mad Money” host said.

The company Cramer calls a “best-of-breed colossus” beat Wall Street expectations in its first-quarter earnings on Tuesday. Baker Hughes missed expectations in its latest quarter, which Cramer said dragged down the rest of the industry’s companies, including Halliburton.

Halliburton stock fell 4% on Wednesday.

Here are some of Cramer’s key takeaways from Halliburton’s quarterly results and earnings call. 

  • The company raised its customer spending forecast. “The one thing that’s worried me here is that, even though the crude price has skyrocketed, domestic oil producers have been very disciplined about putting new money to work. … But the industry can only be so disciplined with oil at over a hundred bucks a barrel,” Cramer said.
  • According to HAL, the oil and gas industry now prioritizes investing in shorter-cycle investments. “That is fabulous for Halliburton, because these short-cycle projects are like bread and butter,” he said.
  • Cramer believes Halliburton is on track to grow even more in the next couple of years. Cramer’s Investing Club raised its price target for the company to $45, which is around 18.4x earnings expectations for fiscal year 2023.

Disclosure: Cramer’s Charitable Trust owns shares of Halliburton.

Sign up now for the CNBC Investing Club to follow Jim Cramer’s every move in the market.

Disclaimer

Questions for Cramer?
Call Cramer: 1-800-743-CNBC

Want to take a deep dive into Cramer’s world? Hit him up!
Mad Money TwitterJim Cramer Twitter – Facebook – Instagram

Questions, comments, suggestions for the “Mad Money” website? [email protected]





Source

TSA plans to let travelers keep their shoes on at airport security checkpoints
Business

TSA plans to let travelers keep their shoes on at airport security checkpoints

Traveler wait in a long security line at John Wayne Airport in Santa Ana Wednesday, May 7, 2025. Allen J. Schaben | Los Angeles Times | Getty Images The Transportation Security Administration plans to let many travelers leave their shoes on at U.S. airport checkpoints, ending a roughly 20-year-old rule, according to people familiar with […]

Read More
Boeing delivers most airplanes since late 2023 after ramping up 737 Max output
Business

Boeing delivers most airplanes since late 2023 after ramping up 737 Max output

Boeing 737 MAX airliners are pictured at the company’s factory in Renton, Washington, on Sept. 12, 2024. Stephen Brashear | AP Boeing delivered 60 airplanes last month, the most since December 2023, as the plane maker seeks to raise production of its bestselling 737 Max jets after a series of manufacturing and safety problems. The […]

Read More
Wendy’s CEO Kirk Tanner tapped to lead Hershey
Business

Wendy’s CEO Kirk Tanner tapped to lead Hershey

Kirk Tanner, then chief executive officer of North America beverages for PepsiCo Inc., speaks during the Bloomberg Power Players Summit in Miami, Florida, U.S., on Friday, Jan. 31, 2020.  Marco Bello | Bloomberg | Getty Images Wendy’s CEO Kirk Tanner has been named the new chief executive of The Hershey Company, effective August 18. Tanner […]

Read More