Cramer Urges Hold on Chevron Citing 3.85% Yield and Venezuela Upside
Jim Cramer recommended holding Chevron, highlighting its 3.85% dividend yield, robust buyback program, and potential upside from Venezuelan oil blocks. Occidental Petroleum shares rose over 10% in January and further in February after a Q4 earnings beat, underscoring sector momentum that could bolster Chevron's outlook.
1. Jim Cramer Endorses Chevron
Jim Cramer said Chevron can rally further, praising its 3.85% dividend yield and significant share repurchase program under CEO Mike Wirth. He noted the company’s consistency and flagged potential gains from expanded operations in Venezuela as a catalyst for stock appreciation.
2. Sector Momentum from Occidental
Occidental Petroleum’s shares climbed over 10% in January and extended gains after a strong Q4 earnings beat, driven by midstream performance that offset weak oil prices. That rally underscores robust energy sector momentum which could benefit Chevron’s stock through improved market sentiment.