We recently published 12 Stocks Jim Cramer Mentioned In An Episode Where He Briefly Commented On Data Centers. Occidental Petroleum Corporation is one of the stocks Jim Cramer recently discussed.
Cramer discussed Occidental Petroleum Corporation after a Wall Street Journal report suggested that Warren Buffett’s Berkshire Hathaway would buy the firm’s petrochemical business. Berkshire confirmed the $9.7 billion deal the next day. The CNBC TV host commented that all oil companies were facing balance sheet tightness, and as per the Journal’s latest report, the deal will allow Occidental Petroleum Corporation to reduce its debt and focus on the oil business. Here is what Cramer said:
Copyright: Elnur / 123RF Stock Photo
“[On WSJ’s report] Yeah this is a great business and OXY’s in no position to be able to just say hey listen we’ll give you the highest bid I don’t wanna do that. All the oil companies are very stretched right here. We don’t talk about it enough. Anybody that has a bad balance sheet, a lot of the natural gas companies even are down. We think that natural gas is the fuel of the future for the data centers.”
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
This article is originally published at Insider Monkey.
