Baker Hughes Company (BKR) Is 'So Smart,' Says Jim Cramer
Baker Hughes Company (NASDAQ:BKR) is an oil and gas production equipment company that has managed to perform better on the stock market when compared to rivals and peers SLB and Halliburton. The stock has gained 9.6% year-to-date on the back of a 16% gain in July due to the firm's latest EPS and revenue beating analyst estimates. Cramer's previous comments about Baker Hughes Company (NASDAQ:BKR) have pointed to the strong performance, and this time, he discussed the specifics of the strong performance:
'[$13.6 billion deal to buy Chart] Oh my god, that deal is so smart, particularly in light of liquefied natural gas. They've always had the great equipment. They've also had, remember they used to have the [inaudible]. They had the welders. You need a lot of welders. That's a great deal.
Copyright: Elnur / 123RF Stock Photo
Here are Cramer's previous remarks about Baker Hughes Company (NASDAQ:BKR):
'But not as many as you would think. I mean, look, oil and gas, you would think that would be terrible with oil in the 60s, they're doing pretty well. Well, Schlumberger and Haliburton have a hard time. Baker Hughes actually had a good quarter. But then, out of nowhere, you get this LNG deal. And you say, wow, I mean there's an industry that's got customers for the rest of its duration.'
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READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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