Jim Cramer: Exxon Is 'Overvalued' Versus Rival Oil Giant, Avoid Lumen Technologies

On CNBC's “Mad Money Lightning Round,” Jim Cramer said Exxon Mobil Corporation XOM is “overvalued” versus Chevron CVX.

On Nov. 26, RBC Capital analyst Biraj Borkhataria maintained Exxon Mobil with a Sector Perform and lowered the price target from $120 to $115.

“I don't care about the near-term on this stock,” Cramer said when asked about BlackRock, Inc. BLK. “Not everything's going to go up at once, some things are just going to be very solid for when things go down, and you can buy more of, and that's BlackRock.”

On Dec. 3, the company disclosed a definitive agreement to acquire HPS Investment Partners for around $12 billion.

Cramer recommended to avoid Lumen Technologies, Inc. LUMN. “It should never have gone up as much as it did, and it's going to come back down. And it's not done going down. It went too high. It's up way too much,” he added.

On Nov. 29, Citigroup analyst Michael Rollins maintained Lumen Technologies with a Neutral and raised the price target from $6.5 to $8.

When asked about Applied Digital Corporation APLD, he said, “It's enterprise software, and those stocks cannot be kept down. I am not going to tell you to buy it or sell it. I am just saying that enterprise software is so hot, people just can't resist.”

On Oct. 9, Applied Digital reported quarterly losses of 15 cents per share which beat the analyst consensus estimate for losses of 29 cents.

ON Semiconductor Corporation ON has a “very difficult situation,” the Mad Money host said. “I'm going to say it's got to go even lower still, and I can't recommend it — as painful as that is.”

On Nov. 22, Wells Fargo analyst Joe Quatrochi initiated coverage on ON Semiconductor with an Overweight rating and announced a price target of $85.

“I think at these prices, you do not want to ignore this stock,” Cramer said when asked about LyondellBasell Industries N.V. LYB.

On Dec. 6, JPMorgan analyst Jeffrey Zekauskas maintained LyondellBasell Industries with an Overweight and lowered the price target from $100 to $90.

Cramer said Applied Industrial Technologies, Inc. AIT is the kind of company he does like.

On Dec. 3, Keybanc analyst Ken Newman maintained Applied Industrial with an Overweight and raised the price target from $275 to $325.

Price Action:

BlackRock shares fell 0.2% to settle at $1,042.87 on Friday.
Applied Digital shares jumped 6.3% to close at $10.67.
Applied Industrial Technologies shares fell 0.4% to settle at $273.82 on Friday.
Exxon Mobil shares fell 1.1% to $113.57 on Friday.
LyondellBasell shares fell 1.3% to close at $76.39 on Friday.
Lumen Technologies shares gained 8.2% to settle at $7.00 during the session.
ON Semiconductor shares gained 1.2% to close at $66.52 on Friday.

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