Jim Cramer on Occidental Petroleum: “You Don’t Want to Be in It”

Occidental Petroleum Corporation (NYSE:OXY) is one of the stocks Jim Cramer recently gave takes on. When a caller asked for help with the stock, Cramer replied:

“No. I’m going to give you help with OXY. You don’t want to be in it. There’s your help. That’s all you need to know. It’s an oil company and not even a good one.”

A stock market graph. Photo by energepic.com

Occidental Petroleum Corporation (NYSE:OXY) explores and produces oil, natural gas, and NGLs, while also operating chemical manufacturing and midstream marketing businesses. When a caller asked for Cramer’s advice on the company’s stock in May, he 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.”

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