Jim Cramer Talked About These 7 Stocks Recently

5. Phillips 66 (NYSE:PSX)

Number of Hedge Fund Holders: 47

A caller asked if Phillips 66 (NYSE:PSX) was a good investment, and Cramer replied:

“Alright, let’s just view it as an investment situation. It’s got a 4.4% yield. We’re running short of refiners. I think that the stock has been overly punished. It’s been going down as if it’s an oil stock. It is not an oil stock, it’s a refiner, and I would be a buyer of PSX, and I’ve been waiting to say that for some time, but it’s down enough that I think it’s time.”

Phillips 66 (NYSE:PSX) is an energy company engaged in manufacturing and logistics. The company handles the transport, storage, refining, and marketing of petroleum products and is also involved in producing and selling chemicals. On May 2, Goldman Sachs increased its price target on PSX to $127 from $124 and maintained a Neutral rating.

The analyst mentioned that the firm sees better risk-reward following the recent drop in the stock, but is still watching refining performance and remains cautious about the company’s progress toward its 2027 mid-cycle EBITDA goal.