“…Now, after that is Exxon, off 2.1% since the year began. This petro-giant is totally problematic. No great yield. Nothing new until the XTO, that natural gas deal closes and it hasn’t budged as oil has run to $80 a barrel. I don’t see it helps us out at all. I think Exxon will be lucky to creep to $70. That’s only up three from here. No more than that. Kind of a boat rowed gently up the stream. Then there’s Chevron. Off 3.5% for the year. My charitable trust has become a seller of chevron, but merely scaling out as the company said many good things today at the analyst meeting. I am not fretting. In fact, I think this $74 and change stock can row its way to $80 perhaps with a leisurely portage now and then.” (more)
Thursday, March 11, 2010
Cramer Abandons Ship on Blue Chip Oil Stocks
“…Now, after that is Exxon, off 2.1% since the year began. This petro-giant is totally problematic. No great yield. Nothing new until the XTO, that natural gas deal closes and it hasn’t budged as oil has run to $80 a barrel. I don’t see it helps us out at all. I think Exxon will be lucky to creep to $70. That’s only up three from here. No more than that. Kind of a boat rowed gently up the stream. Then there’s Chevron. Off 3.5% for the year. My charitable trust has become a seller of chevron, but merely scaling out as the company said many good things today at the analyst meeting. I am not fretting. In fact, I think this $74 and change stock can row its way to $80 perhaps with a leisurely portage now and then.” (more)
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