Jim Cramer on Chevron: “I’m Going to Say Pull the Trigger”

Chevron Corporation (NYSE:CVX) was among the stocks on Jim Cramer’s radar as he highlighted the importance of lower interest rates in sustaining the broader market rally. A caller mentioned that they wish to start a position in the stock, given the conflict with Iran, but are unsure “when to pull the trigger.” Cramer replied:

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.

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 April 10 episode, a caller inquired whether the market is in the early innings of another offshore drilling supercycle. The Mad Money host said:

No, I don’t think we are. If you’re doing offshore drilling, just go buy Chevron because no one drills offshore like Mike Wirth. And I know that’s the oil company, not the driller. You’d say, well, maybe you should be in Schlumberger. I say, just go be with Mike Wirth.

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