An acquisition of Pioneer Natural Resources could be as large, if not larger, as the deal with Anadarko, Cramer said. That would depend on the size of the prize, he added.
CEO Tim Dove announced he would step down in February, after a disappointing quarter, a measure that Cramer said he did not expect. Scott Sheffield, who retired as head in 2016, came back to change things.
Cramer said he would not be surprised if he put the company back in shape and then put it up for sale. In addition, the shares did not rise 11% after the announcement of the merger of Anardarko for no reason, he said.
"Personally, I love this company. Sheffield made some brilliant acquisitions when the oil entered the crater," Cramer said. "He's a smart guy, a fantastic negotiator. He'll have the highest price imaginable if he decides to sell."