Jim Cramer Discusses Chevron During Presidential War Related Talks

Chevron Corporation (NYSE:CVX) was one of the stocks on Jim Cramer’s radar as he cautioned that SpaceX could blow past its opening price. Cramer discussed the stock in light of the President’s comments, as he said:

If you’re wondering why we don’t make investing decisions based on what the President says about the war, it’s because when he does, we get buried. He says that talks are going well? You know what? Go buy Chevron because that probably means the talks are going to go wrong. He says that things are going badly? That means you sell Chevron because it means that things are probably going to improve. Rarely has there been a more consistent strategy, and don’t the Iranians know it.

Photo by Luis Ramirez on Unsplash

Chevron Corporation (NYSE:CVX) is an integrated energy company that explores, produces, refines, and markets oil, natural gas, and petrochemical products. During the May 12 episode, a caller mentioned their wish to start a position in the stock but was not sure yet. In response, Cramer commented:

No, you’re absolutely right to do Chevron. The one thing I would tell you is that the last time that oil was at these prices, Chevron was dramatically higher, but you do get a 3.8% yield, and they have great cash flow. And Mike Wirth is running it, and I’m going to say pull the trigger. I like it.

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