Jim Cramer Likes Devon Energy, But Calls Another Stock 'Far Superior'
On CNBC’s “Mad Money Lightning Round,” Jim Cramer said Amphenol Corporation APH is a “terrific” stock.
On Oct. 23, Amphenol reported better-than-expected earnings for its fiscal third quarter.
When asked about Freeport-McMoRan FCX, Cramer said he don’t like the copper stocks, and “copper doesn’t yield a lot here.”
On Oct. 22, Freeport-McMoRan reported third-quarter FY24 results. Revenue stood at $6.79 billion, beating the consensus of $6.47 billion. Copper sales totaled 1.0 billion pounds, down 7% Y/Y and 2% above the July 2024 estimate, due to the timing of shipments and lower ore grades and operating rates in North America.
The Mad Money host said he likes Devon Energy Corporation DVN, but Coterra Energy Inc. CTRA is “far superior” to Devon.
“I don’t know how you can really make a lot of money in that business, frankly,” Cramer said when asked about TransMedics Group, Inc. TMDX.
On Oct. 28, TransMedics reported quarterly earnings of 12 cents per share, which missed the analyst consensus estimate of 30 cents per share. The company reported quarterly sales of $108.76 million, which missed the analyst consensus estimate of $115.00 million.
Price Action:
- Freeport-McMoRan shares gained 1.3% to settle at $44.12 on Tuesday.
- TransMedics shares gained 2.5% to close at $82.92.
- Amphenol shares gained 1.6% to close at $70.98.
- Devon Energy shares fell 2.2% to settle at $37.91 during the session.
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