Jim Cramer Shares Why He’d Buy Chevron (CVX)

We recently published Jim Cramer Discussed AI “Mojo” & Commented On These 13 Stocks. Chevron Corporation (NYSE:CVX) is one of the stocks discussed by Jim Cramer.

Cramer has frequently discussed oil major Chevron Corporation (NYSE:CVX)’s shares since the onset of hostilities in Iran. The CNBC TV host has linked the shares to the duration of the conflict and outlined that the longer the conflict lasts, the better it will be for the shares. Since his remarks on the 13th, Chevron Corporation (NYSE:CVX)’s shares are down by 1.9%. RBC Capital also discussed the firm on that day. It raised the share price target to $220 from $200 and kept an Outperform rating on the stock. Among the factors that RBC included in its latest coverage of Chevron Corporation (NYSE:CVX)’s stock were an updated commodity price outlook and early guidance that could affect the firm’s volumes. Cramer discussed the impact of the disruption in the global energy market on the firm’s operations and commented on operations in the Permian Basin:

“I will say that, the Permian there’s been no pickup because these oil companies they say, we’ve seen it all before. I think that’s precisely wrong. They haven’t seen it all before. This is different. No one thinks that this is going to be short term. But that’s why you can still buy the refiners, David. . .I think Chevron goes right back to [inaudible]. I would buy Chevron.”

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