We recently published a list of 10 Stocks on Jim Cramer’s Radar Amid Market Volatility. In this article, we are going to take a look at where Chevron Corp (NYSE:CVX) stands against other stocks on Jim Cramer’s radar amid market volatility.
Jim Cramer in a latest program on CNBC commented on the reasons behind the recent selloff and said the market correction isn’t always healthy. He continues to believe the key reason behind the latest market drop was President Trump’s volatile tariff policies.
“I think Trump’s core thesis is right, our trading partners have taken advantage of our country for decades and it’s worth trying to set that right, but it’s a very big but, Trump’s approach has been way too erratic, it’s terrified both the stock market and the broader economy, not just the stock market, the broader economy. Most of the substantive tariff news comes in the form of postings on Truth Social, they come fast and furious, they’re incredibly important, they’re incredibly contradictory. These posts involve hundreds of billions of dollars if not trillions of dollars and more importantly hundreds of thousands of jobs, including yours. The Mercurial postings, the scatter shot approach to trade policy is the approximate cause of the correction.”
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For this article we picked 10 stocks Jim Cramer talked about in his programs recently. With each stock, we have 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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
Chevron Corp (NYSE:CVX)
Number of Hedge Funds Investors: 63
Jim Cramer was recently asked about ExxonMobil during a program on CNBC. He said he prefers Chevron Corp (NYSE:CVX).
“I like Chevron better. I like Chevron better. You’ve got Mike Wirth doing something. The stock hasn’t moved nearly as much as ExxonMobil, and it’s Chevron’s time because of that 4.4% yield.”
TCW Relative Value Large Cap Fund stated the following regarding Chevron Corporation (NYSE:CVX) in its Q3 2024 investor letter:
“Chevron Corporation (NYSE:CVX), headquartered in San Ramon, CA, is an integrated energy company. At elimination, the stock had a $273 billion market capitalization and met all five valuation factors, including a robust 4.4% dividend yield. Chevron’s planned acquisition of Hess† would yield a strong restructuring catalyst through elimination of duplicate corporate costs and a new markets catalyst through Hess’ 30% interest in the Stabroek oilfield off Guyana; these blocks have a very low cost of supply and decades of reserves that would support strong free cash flow. While Chevron recently received Hart[1]Scott-Rodino (HSR) clearance to acquire the company, the closure timing has extended from Q4 2024 to possibly to Q2 2025 as Chevron is engaged in arbitration with peers ExxonMobil (XOM; 2.47%**) and Chinese state-owned CNOON over rights of first refusal (ROFR) for Hess’ interest in Stabroek. As Chevron’s expected arbitration resolution timeline has slipped, we believe that ExxonMobil and CNOOC’s ROFR case may have more merit than expected, thus putting the entire Hess acquisition at risk. Given an increasingly reasonable outcome that Chevron might abandon the Hess acquisition altogether, we eliminated the position in the stock.”
Overall, CVX ranks 4th on our list of stocks on Jim Cramer’s radar amid market volatility. 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.
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Disclosure: None. This article is originally published at Insider Monkey.
