You Either Keep The Dividend Or Lay Off, Says Jim Cramer About ConocoPhillips (COP)

We recently published 10 Stocks Jim Cramer Discussed As He Warned About Big Risk To Big Tech. ConocoPhillips (NYSE:COP) is one of the stocks Jim Cramer recently discussed.

ConocoPhillips (NYSE:COP)’s shares fell by 4% after the firm announced that it would cut between 20% to 25% of its workforce. The move was driven by falling oil prices as the firm looks to beef up its bottom line and account for the rising costs. Cramer discussed the announcement and wondered whether ConocoPhillips (NYSE:COP)’s dividend had a role to play in the decision:

“[On layoff announcement] Let’s talk about the Conoco for a second. Rusty Braziel is my best go to guy. RBN. He’s talking about, a lot of the oil companies raised their dividend. Felt that they were going to go for cash flow. This price right now is not conducive to that. You’re either gonna, you’re gonna lay off people, or you’re going to keep your dividend, and these oil companies were not ready. I don’t know what Venezuela has to do with it. But I do think that that’s where I would say it’s just the commodities going down.”

Here are his previous thoughts about ConocoPhillips (NYSE:COP):

“All right. Buy COP. Let me tell you, I just told Jeff Marks, my partner for the club, that we’re in the wrong one now. Coterra is not delivering. We should be in ConocoPhillips. I just said it today. I’m not going to say it behind… I tell it to you, I say it to him. That’s how I play it.”

While we acknowledge the potential of COP as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.

Disclosure: None. This article is originally published at Insider Monkey.