Baker Hughes Company (BKR) Is “So Smart,” Says Jim Cramer

We recently published 12 Stocks Jim Cramer Recently Discussed As He Commented On A “Sea Of Green”. Baker Hughes Company (NASDAQ:BKR) is one of the stocks Jim Cramer recently discussed.

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.

“And Baker Hughes is so smart. . . .Baker Hughes has done so much, they were very coherent last week, good call. So much to be able to make it so they’re more than just oil service. You’ve got to hand it to them they’re not letting the price of oil get them down.”

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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Disclosure: None. This article is originally published at Insider Monkey.