It's that time again! Jim Cramer rang the lightning round bell, which means he gave his take on caller favorite stocks at rapid speed:

CVS Health Corp: "CVS is a very good company, but you know what, it's bricks-and-mortar retail. My charitable trust owns Walgreens. We own it because of the combination of Rite Aid and Walgreens would be good. But otherwise we would not own it because brick-and-mortar retail is bearish."

Cheniere Energy: "The trade in Cheniere is over because the great Charif Souki, who got us in very low and then got us out very high is gone. I'm not a backer without Charif Souki."

PNC Financial Services Group: "PNC had a good quarter. I read through the conference call and I really liked it. But remember, Bank of America was I think better. JPMorgan was better. Citigroup, which my charitable trust owns, was better and Wells Fargo bizarrely, was a star."

Sanchez Energy Corp: "Sanchez is very speculative. I like a little less speculative. Schlumberger reports tomorrow. Maybe on a dip you can buy that one. I also like Apache in the Permian, APA, the charitable trust has been buying that one. Got to be price sensitive, the next level is $61."

Cott Corporation: "Everyone always says it's getting a takeover, it's beverages, it's going to work. Me, no thank you. That Coca-Cola downgrade was very, very, very threatening and shaky. So, I'm going away from the beverages, except for the charitable trust believes in PepsiCo and Indra Nooyi. Boy, if that stock came down $99 you know how much I would push for you to buy that."

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