5 Cheap Jim Cramer Stocks to Invest In Right Now

2. Chevron Corporation (NYSE:CVX)

Forward P/E: 11.83

Number of Hedge Fund Holders: 103

Chevron Corporation (NYSE:CVX) is one of the 10 cheap Jim Cramer stocks to invest in right now.

On May 21, 2026, Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE:CVX), launched its next-generation Techron fuel additive across all grades at Chevron and Texaco stations nationwide.  The scientifically tested reformulation is designed to protect engines from harmful deposits caused by lower-quality fuels. In addition to long-term efficiency, the reformulation also maximizes performance. When used consistently, the updated formula can clean up to 100% of existing engine deposits. According to Andy Walz, president of Chevron Downstream, Midstream, and Chemicals, the innovation strengthens Chevron Corporation (NYSE:CVX)’s focus on fuel quality and exceeds standard industry requirements to support modern engine needs.

In a separate event, on May 27, 2026, Mizuho raised its price target on Chevron Corporation (NYSE:CVX) from $225 to $230 and maintained an Outperform rating on the stock. Expecting a prolonged crisis with Iran, the firm raised its 2026/2027 oil price outlook and refining crack forecasts. The firm’s analyst noted that the reduced stock valuations create investor opportunities in U.S. oil and gas.

Earlier, on May 12, 2026, Cramer shared his positive view on Chevron Corporation (NYSE:CVX):

The last time oil was at these prices, Chevron was dramatically higher, but you do get a 3.8% yield and they have great cash flow. Mike Wirth is running it, and I’m gonna say, pull the trigger.

Founded in 1879, Chevron Corporation (NYSE:CVX) operates as a fully integrated energy company, producing crude oil and natural gas, manufacturing fuels, lubricants, and petrochemicals, and developing technologies aimed at improving efficiency across its operations and the broader energy industry. The company’s headquarters is in Texas.