Jim Cramer on Chevron: "I Think You Can Own This"

Chevron Corporation (NYSE:CVX) is one of the stocks Jim Cramer recently talked about. A caller asked if the stock remains a strong long-term hold and if Cramer still has confidence in CEO Mike Wirth. He replied:

“I spoke to Mike today about the fire. I’m not really worried about that at all. I think you can own this, 4.5% yield. Now, I’m not a big fan of oil. I think it could go below $60. So be ready if it does do that. Remember, this stock had been at one point just not that long ago down to $135. And so it’s at $153. I think you buy some and then you wait to see if it breaks down because of that $60 possible breakdown.”

Chevron Corporation (NYSE:CVX) focuses on integrated energy and chemical operations, including the exploration, production, and transportation of oil and natural gas. In addition, the company manages refining, marketing, and manufacturing petroleum, renewable fuels, and petrochemicals, along with involvement in carbon capture and advanced energy technologies.

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