Jim Cramer Says Oil Prices Are Set for a Rebound; Here Are 3 Oil Stocks That Could Gain

The sell-off is done and it’s time to buy in again. No, unfortunately that’s not a prognosis for the stock market in general, but rather CNBC’s Jim Cramer’s recommendation for investors looking at the oil sector.

“The charts, as interpreted by Carley Garner, suggest that the oil speculators have been mostly wiped out,” said the Mad Money host on Tuesday, “so it’s time to buy the dips because she wouldn’t be surprised at all if crude can rally another $20 from here.”

According to Cramer, Garner's forecast of an oil price wash-out is taking shape, and as China's economy begins to recover and the Biden administration moves to restock the Strategic Petroleum Reserve whenever prices go below $70 per barrel, oil prices may be about to take off again.

So, if that is indeed panning out, then oil stocks could be in for a bump too. With this in mind, we delved into the TipRanks database and pulled up the details on three names that potentially stand to gain from the rebound. All are rated as Strong Buys by the analyst consensus and primed to push ahead over the coming months. Let’s check the details.
$Magnolia Oil & Gas (MGY.US)$ $Matador Resources (MTDR.US)$