Jim Cramer Highlights Chevron as One of the "Laggards" Linked to the Price of Crude

Chevron Corporation (NYSE:CVX) is one of the stocks in focus in the game plan Jim Cramer shared. Cramer showed pessimism toward the stock due to industry conditions. He said:

“Finally, Friday, we have, oh look what it is, right, Chevron and Exxon… Two laggards that are linked to the price of crude, which means it’s very hard for them to get any traction, are Chevron and Exxon.”

Chevron Corporation (NYSE:CVX) is an integrated energy company that explores, produces, refines, and markets oil, natural gas, and petrochemical products. A caller asked about the stock and Cramer’s opinion of the company CEO during the October 10 episode. He responded:

“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.”

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