Jim Cramer: Buy Anadarko, Bill Barrett, and Bonanza Creek, But Sell this Stock
Jim Cramer made the following calls on September 30th, 2013. What do you think about his picks?
Anadarko Petroleum Corporation (NYSE:APC): Jim Cramer ranked this stock a Buy. Cramer previously ranked this stock a Buy on May 3, 2013. The stock’s 52-week high is $96.75, and its 52-week low is $65.82. Cramer discussed the Niobrara share region, one of the latest deposits of oil that is found in Colorado. Cramer highlighted Anadarko as the top player in the region to this date, noting that he owns many shares of the company in his charitable trust. He did warn of the risk inherent in newer regions of oil drilling, balancing his optimism about Anadarko by saying that other companies had met with mixed results in Niobrara.
Bill Barrett Corp. (NYSE:BBG): Jim Cramer ranked this stock a Buy. The stock’s 52-week high is $26.13, and its 52-week low is $15.50. Cramer gave the nod to Bill Barrett, an energy company that is currently the smallest pure play in Colorado’s Niobrara shale. Cramer noted that, while the company currently only has 16 wells in the area, it has plans to build up to 60 more in the region in the foreseeable future.
Bonanza Creek Energy Inc. (NYSE:BCEI): Jim Cramer ranked this stock a Buy. The stock’s 52-week high is $51.32, and its 52-week low is $20.83. Cramer was also a fan of Bonanza Creek Energy, another player in the Niobrara shale in Colorado. Bonanza’s stock has posted significant gains during the month of September as enthusiasm over the Niobrara region has increased.
8×8 Inc. (NASDAQ:EGHT): Jim Cramer ranked this stock a Sell. Cramer previously ranked this stock a Sell on March 1, 2013. The stock’s 52-week high is $11.00, and its 52-week low is $5.62. Cramer was bearish about 8×8, the provider of voice over IP services. Cramer noted that the stock had already made significant gains, both over the last six months and the last two weeks, and said that there were better plays available for investors in the sector at this time.