Jim Cramer Is Bearish on These 5 Stocks in September

1. Occidental Petroleum Corporation (NYSE:OXY)

Number of Hedge Fund Holders: 66    

Occidental Petroleum Corporation (NYSE:OXY), together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties. During the Lightning Round of his show on September 15, Cramer outlined his bearish stance on the company while answering a viewer question, saying that although he had a lot of respect for Warren Buffett, who is a “terrific” investor, he just “can not recommend this stock”. 

On July 26, investment advisory Barclays maintained an Overweight rating on Occidental Petroleum Corporation (NYSE:OXY) stock and lowered the price target to $79 from $84. Analyst Jeanine Wai issued the ratings update. 

At the end of the second quarter of 2022, 66 hedge funds in the database of Insider Monkey held stakes worth $13.8 billion in Occidental Petroleum Corporation (NYSE:OXY), compared to 67 in the previous quarter worth $12.6 billion.

In its Q2 2022 investor letter, Smead Capital Management, an asset management firm, highlighted a few stocks and Occidental Petroleum Corporation (NYSE:OXY) was one of them. Here is what the fund said:

“For the quarter, our best-performing stocks were Continental Resources (CLR), Merck (MRK) and Occidental Petroleum Corporation (NYSE:OXY). Despite a steep sell-off in June in the oil and gas stocks, two of our oil stocks made the quarterly list.

If you are wondering how we are outperforming the S&P 500 Index in the first half of the year, look no further than our top three performers. Occidental Petroleum (OXY), Continental Resources (CLR) and Conoco Phillips (COP) soared in value and were barely represented in the S&P 500 Index. To quote Jerry Jones, owner of the Dallas Cowboys, “We are in the first quarter on higher energy prices!””

You can also take a peek at Forget Tesla (TSLA): 10 Cheap EV Stocks to Buy Now and 15 Best Consumer Discretionary Stocks to Buy Now.

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