Cramer on Tonight’s MAD MONEY said he is endoring oil services, but not just because of Goldman Sachs’ upgrade of its base prices today. If you already own these you might not want to chase with additional funds, but Cramer has one that has been missed and overlooked if you don’t have any energy stocks.
The one overlooked is Grant Prideco (NYSE:GRP). He thinks it has lagged significantly and has 22 manufacturing facilities in the US, Canada, Mexico, and elsewhere. This makes the drill bits that oil companies keep burning through, and the pricing power is significant. The company has been doing very well, but the stock hasn’t. The CEO is notorious for over-promising and over-delivering.
This might not be totally unknown and overlooked after you take a look at the others in the sector: $6.8 Billion market cap; up over 60% from year lows and down about 11% from its 52-week highs.
Jon C. Ogg
September 17, 2007
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