8 Stocks on Jim Cramer’s Radar

3. Chevron Corporation (NYSE:CVX)

Number of Hedge Fund Holders: 81

A caller asked if it is a good time to buy Chevron Corporation (NYSE:CVX) stock, given that it has fallen from its 52-week high. In response, Cramer said:

“Okay, I think that you have to have a view on oil when you think about this one…. And I think that first, I think oil’s going lower. I think it goes to the 50s. I think it’s part of the president’s plan to be able to reduce the inflation rate. However, it does yield 5%. I don’t want to reach for yield. I never want to just say, you know what, I’ll take the 5% and not worry about the common stock. You are going to wait till this stock at 136 goes to 130 before you pull the trigger and not until then.”

Chevron (NYSE:CVX) is involved in a wide range of energy and chemical activities, including oil and gas exploration, production, refining, transportation, and marketing. The company also focuses on the development of renewable fuels, petrochemicals, and carbon capture technologies.