Jim Cramer Favors Chevron for Its Robust Dividend Yield Amid Market Fluctuations

Published 20 days agoCVX

Jim Cramer Favors Chevron for Its Robust Dividend Yield Amid Market Fluctuations

Jim Cramer has expressed a clear preference for Chevron (CVX) over ExxonMobil, highlighting Chevron's appealing 4.4% dividend yield as a primary reason for his endorsement. This comes at a time when the oil market is experiencing significant volatility and broader economic uncertainties, making yield an essential consideration for investors.

According to Insider Monkey, despite the current market fluctuations, Chevron has demonstrated resilience, with its shares climbing 13% year-to-date. This performance has been bolstered by a rally in natural gas, providing a steady return to shareholders. Additionally, Chevron is pushing forward with strategic growth initiatives, including its planned acquisition of Hess, even though this move is facing legal challenges.

Cramer also commends the leadership of Chevron's CEO, Mike Wirth, citing strategic decisions that have reinforced the company's stability. Furthermore, Chevron's stock remains popular among hedge funds, with 81 holding the stock in the fourth quarter of 2024, signifying confidence in the company's financial robustness and potential for continued success.

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