We recently published a list of Jim Cramer Discussed These 9 Stocks Recently. In this article, we are going to take a look at where Occidental Petroleum Corporation (NYSE:OXY) stands against other stocks that Jim Cramer discussed recently.
A caller asked if they should dump Occidental Petroleum Corporation stock for a loss or hold on, and Cramer replied:
“Let me take it from here. As you heard… I talked about not thinking about where you bought it… thinking about where you’re going to go with it. And this company, even though it’s owned by Berkshire Hathaway, Occidental, is not going to go anywhere. I wish I didn’t have to say that, but I don’t see this company getting a bid, and I don’t see oil going higher.”
Oil derricks in the background with a few workers in the foreground, emphasizing the company’s oil and gas production activities.
Occidental Petroleum is involved in oil and gas exploration, production, and development, while also producing basic and vinyl chemicals. The company manages the transportation, storage, and marketing of energy products and invests in related operations. Appearing on Squawk on the Street on March 14, Cramer made similar bearish comments about the company as he remarked:
“Look at OXY. Look at the Buffett oil. I mean, it is just… OXY is emblematic of how bad this business has become. And it’s very hard to own the stock.”
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This article is originally published at Insider Monkey.
