Jim Cramer is Recommending These 5 Stocks Heading Into May 2024.

This article presents an overview of Jim Cramer is Recommending These 5 Stocks Heading Into May 2024. For a detailed overview of such stocks, read our article, Jim Cramer is Recommending These 10 Stocks Heading Into May 2024.

5. Diamondback Energy Inc (NASDAQ:FANG)

Number of Hedge Fund Investors: 42

When asked about Diamond Black Energy, Cramer said:

“Oh, it’s so good, I should have mentioned that along with Corterra.”

Cramer hit the “buy, buy, buy” button on the stock and said Diamond Black shares are “great.”

Diamond Hill Select Strategy stated the following regarding Diamondback Energy, Inc. (NASDAQ:FANG) in its fourth quarter 2023 investor letter:

“Also among our bottom contributors (though its share price advanced in Q4) was new holding Diamondback Energy, Inc. (NASDAQ:FANG), which is a scaled, low-cost operator in the Permian Basin, one of the most prolific shale basins in the US. The company is focused on cost-efficiency, and management is aligned with shareholders as it focuses on prudent and sustainable management of the company’s assets.

Though shares were pressured in Q4 as oil prices globally declined amid a high-production environment, we believe the company is well-positioned for free cash-flow generation over the long term. We capitalized on Q4’s share-price weakness to initiate a position in a high-quality operator at a meaningful discount to our estimate of long-term intrinsic value.”