Jim Cramer on Chevron: “I Would Stick With It”

Chevron Corporation (NYSE:CVX) is one of the stocks Jim Cramer was asked about. Noting that XOM stock has performed better than CVX, a caller asked if Cramer thinks the company can produce similar results. In response, he said:

“I think that Mike Wirth is going to be able to do it. He’s got, look, he could get Venezuela if that government, if someone gives that guy $100 million… I’m a believer in Mike Wirth. I think he’s the real deal, and I think that that’s a good stock with 4.6% yield and a gigantic buyback, and I would stick with 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 December 10 episode, a caller asked Cramer about the stock and what he thought of the company CEO. The Mad Money host responded:

“I spoke to Mike today about the fire. I’m not really worried about that at all. I think you can own this, 4.5% yield. Now, I’m not a big fan of oil. I think it could go below $60. So be ready if it does do that. Remember, this stock had been at one point just not that long ago down to $135. And so it’s at $153. I think you buy some and then you wait to see if it breaks down because of that $60 possible breakdown.”

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Disclosure: None. This article is originally published at Insider Monkey.