We recently compiled a list of the 10 Important Stocks that Jim Cramer is Talking About. In this article, we are going to take a look at where Chevron Corp (NYSE:CVX) stands against the other important stocks that Jim Cramer is talking about.
Jim Cramer in a latest program talked about the latest market volatility and said using too many AI algorithms, data points and correlations could be useful for short-term traders but for investors, these tools could blur your long-term vision.
“I think as investors we’re putting on mental shackles if we behave like this. Remember back in my hedge fund, our whole goal was day trading, was to scalp pennies from the flow. That’s a lot of risk for not much reward. It’s better to zero in on dollars for the big picture. That’s what I want you to do.”
Jim Cramer said that the market is currently oversold and this happened twice before in 2024. These moments, according to Cramer, proved to be some of the best entry points to pile into stocks in hindsight.
READ ALSO: 7 Best Stocks to Buy For Long-Term and 8 Cheap Jim Cramer Stocks to Invest In.
For this article we watched Jim Cramer’s recent programs and listed some of the stocks he commented on. For these stocks, we also mentioned the number of hedge fund investors. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
Chevron Corp (NYSE:CVX)
Number of Hedge Fund Investors: 63
Cramer in a latest program said the following about Chevron while talking about the impact of Donald Trump’s victory in the election on stocks:
“He’s not going to send the stock of Chevron Corp (NYSE:CVX) up when he says that there’ll be much more oil production that it’ll make up for whatever inflation we have in the system. We know that oil executives’ stocks get clobbered when they overproduced during Trump’s first Administration. They eventually got disciplined about pumping, but the results didn’t kick in until the Biden Administration. Yes, ironically, the oils thrived during the Biden regime, which was sincerely hostile to fossil fuels, especially with that moratorium on approvals of new liquefied natural gas exports.”
Carillon Eagle Growth & Income Fund stated the following regarding Chevron Corporation (NYSE:CVX) in its Q3 2024 investor letter:
“Chevron Corporation’s (NYSE:CVX) lagging performance was tied to a combination of weaker than expected second-quarter earnings and the delay of a much-anticipated merger with a global independent energy company. Performance during the quarter was largely related to the timing of outages and maintenance at several locations, which are shorter-term issues. While the pending merger looks attractive, prior expectations had the deal closing in 2024. It is now more likely to close in mid-2025.”
Overall, CVX ranks 8th on our list of the important stocks that Jim Cramer is talking about. While we acknowledge the potential of CVX, our conviction lies in the belief that under the radar AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CVX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.
Disclosure: None. This article is originally published at Insider Monkey.
