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Jim Cramer Likes This Energy Stock With 4% Yield, Recommends Buying DraftKings

Published 12/06/2024, 14:07
Updated 12/06/2024, 15:10
© Reuters.  Jim Cramer Likes This Energy Stock With 4% Yield, Recommends Buying DraftKings

Benzinga - by Avi Kapoor, Benzinga Staff Writer.

On CNBC's “Mad Money Lightning Round,” Jim Cramer said DraftKings Inc. (NASDAQ:DKNG) is a buy. “It's come down all the way, I'm not worried about Illinois. I think it's in good shape,” he added.

The company filed for a mixed-shelf offering on Friday.

Cramer likes BlackRock, Inc. (NYSE:BLK), calling the stock “seems “ridiculously inexpensive” considering “all of the future prospects they have.”

On May 1, BlackRock completed the acquisition of SpiderRock Advisors.

Nextracker Inc. (NASDAQ:NXT) is “terrific,” Cramer said.

Nextracker will replace Grocery Outlet Holding Corp. (NASD:GO) in the S&P MidCap 400, prior to the open of trading on Monday, June 24.

The Mad Money host said Micron Technology, Inc. (NASDAQ:MU) is “going much higher.”

On June 10, UBS analyst Timothy Arcuri maintained Micron with a Buy and raised the price target from $125 to $155.

“If you have to own and oil company, I say you own ConocoPhillips (NYSE:COP),” Cramer said.

On June 5, Mizuho analyst Nitin Kumar maintained ConocoPhillips with a Neutral and lowered the price target from $142 to $132.

Cramer also likes Chevron Corporation (NYSE:CVX) because it has a 4% yield.

On May 28, Hess shareholders approved the proposed $53 billion merger with Chevron.

Portillo’s Inc. (NASDAQ:PTLO) has “just been one giant let down, horrible,” he said.

On May 30, Portillo’s said COO Derrick Pratt will depart effective June 30.

Cramer called Pan American Silver Corp. (NYSE:PAAS) the “cheapest” silver stock. “But I'm not as big a silver fan as I am a gold fan,” he added.

On May 8, Pan American Silver posted a profit for its first quarter.

Price Action:

  • DraftKings shares rose 0.5% to settle at $38.24 on Tuesday.
  • Nextracker shares gained 1.5% to close at $58.92 during Tuesday session.
  • Micron shares rose 0.2% to close at $135.07.
  • Pan American Silver shares closed at $20.06 on Tuesday.
  • ConocoPhillips shares gained 0.3% to close at $113.63 on Tuesday.
  • Chevron fell 0.2% to close at $156.49 during Tuesday's session.
  • BlackRock shares fell 1.1% to close at $757.63.
  • Portillo's shares gained 1.3% to settle at $9.93 on Tuesday.
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© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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