Oklahoma energy companies make Jim Cramer’s investment list

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As one of the more outspoken and vociferous business analysts, CNBC’s Jim Cramer included two Oklahoma energy stocks on his most recent investors lift of five high-yielding stocks.

He said Devon Energy and ONEOK should be on “their shopping lists.”

Here is his list:

  1. Ford
  2. KeyCorp
  3. Federal Realty
  4. Devon Energy
  5. ONEOK

On Wednesday, Devon Energy had a gain of 6.91% or $3.88 and settled at $60.05 per share.

ONEOK settled up $1.96 or 3.84% at $52.94.

The two-year Treasury has surged as of late to around 4.3%, which is a sign that the Federal Reserve will continue to raise interest rates aggressively and increase the likelihood of a recession, according to Cramer.

This has made some stocks “accidental high-yielders,” and now is the time to buy them, he added. “You want to take shelter in the accidental high-yielders because their dividends will give you a cushion.”

To come up with his top picks, Cramer first ran a screen on the S&P 500 to find stocks that are down 30% or more from their respective 52-week highs and yield 4% or more. From the over 50 stocks that fit the requirements, the stocks in the list were his favorite.

“They might have more downside here, but I recommend you start buying them here and gradually build a position,” he said.

Source: CNBC