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SWN, CHK and GOOGL: Jim Cramer's Views By Jim Cramer | Apr 25, 2016 | 01:00 AM EDT

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Cramer: Growth Isn't Growing, While Value's on the Move

Posted at 12:34 p.m. EDT on Friday, April 22, 2016

This love affair with value over growth just grows and grows. The move is breathtaking in both its love for the uglies and the hatred of pulchritude.

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What's incredible is that it doesn't even seem to matter how bad the deep cyclicals are or how good the growth stocks are. They are going to go in divergent directions when they report.

Case in point: Southwestern Energy (SWN - Get Report) . I didn't see anything I really liked from this company, which paid so much at the top for some natural gas assets from a very shrewd Chesapeake (CHK - Get Report) . Sure, the price of natural gas has had a little bump here, mostly because of some storms that shut down Texas capacity. However, the fact is the company's surviving the downturn fairly well, certainly better than we thought just a few months ago, and if that's the case the market's lapping it up.

We are in a come-one-come-all situation where the pin action from Southwestern instantly impacts everything from Range Resources (RRC - Get Report) , another natural gas company, to the oil and gas master limited partnerships that ship the stuff. A drilling stock like Ensco (ESV - Get Report) is now up almost two bucks from the 57 million shares it placed just a week ago.

I think that at this pace, with oil up again -- now at $44, I believe because of increased demand from China -- we are going to start seeing deals from both oil and gas companies before their stocks get away. It's time for those who have capital to step up and buy those companies that can make money at $35 a barrel, nine bucks below here, yet still have stocks well off their highs.

Where else is deep value? How about the banks? You would think they would have quit already after rallying hard since they reported. No way. This morning SunTrust (STI - Get Report) gave you a better-than-expected earnings...


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