Jim Cramer Praises The 'Number One Oil Company In The World'

On CNBC’s “Mad Money Lightning Round,” Jim Cramer praised VF Corp (NYSE:VFC) and expects the stock to rise. Supporting his choice, VF posted better-than-expected second-quarter earnings on Oct. 28.

When asked about Okta, Inc. (NASDAQ:OKTA), he said, “Todd McKinnon [Okta’s CEO] does a terrific job. And so do the people who run CrowdStrike (NASDAQ:CRWD) and Palo Alto (NASDAQ:PANW).”

On the earnings front, Okta will announce third-quarter financial results on Dec. 1.

Cramer said he gets nervous seeing an 11.5% yield of Trinity Capital Inc. (NYSE:TRIN). Cramer also added that he doesn’t know what they own, so he can’t give his opinion.

Trinity Capital, on Nov. 4, reported quarterly earnings of 52 cents per share which met the analyst consensus estimate. The company reported quarterly sales of $98.388 million, which beat the analyst consensus estimate of $93.581 million.

“I think after the Warner Brothers Discovery bid, people said maybe they’re out of ideas, and then the last two quarters have just been ho-hum. I don’t like ho-hum. I’m not a buyer,” Cramer said when asked about Netflix, Inc. (NASDAQ:NFLX).

On the earnings front, Netflix reported mixed third-quarter results on Oct. 20. Netflix reported third-quarter revenue of $12.874 billion, up 12% year over year. The revenue total narrowly missed a Street consensus estimate of $12.876 billion, according to Benzinga Pro. The company reported earnings of 87 cents per share, beating a Street consensus estimate of 82 cents per share.

JPMorgan Chase & Co. (NYSE:JPM) is a “great” bank and Jamie Dimon [CEO] is “terrific,” Cramer said.

Supporting his view, UBS analyst Erika Najarian, on Nov. 2, maintained JPMorgan Chase with a Buy and raised the price target from $395 to $400.

When asked about Ameriprise Financial, Inc. (NYSE:AMP), he said, “There’s actually been no real bad time to own that stock. I’ve watched it go up and up and up. I’ve always said to myself, ‘when is it going to come down?’ We’ve got the opportunity. It’s down for the year. I like your call. Let’s do some buying.”

Ameriprise Financial, on Oct. 29, posted better-than-expected quarterly earnings.

Cardinal Health, Inc. (NYSE:CAH) is a “winner,” Cramer said.

Supporting his view, Cardinal Health, on Nov. 5, reported better-than-expected first-quarter financial results and raised its FY27 adjusted EPS guidance above estimates.

When asked about D-Wave Quantum Inc. (NASDAQ:QBTS), he said, “In this uncertain environment, we’ve got a bank on companies that have really, really good earnings. We’re not going to go down that food chain. It’s just too dangerous right now.”

D-Wave Quantum is scheduled to report third-quarter results on Nov. 10. Analysts expect a loss of 10 cents per share, narrowing from a loss of 41 cents a year earlier. Forecasts show revenue rising to $4.33 million from $3.74 million.

Cramer recommended buying Chevron Corporation (NYSE:CVX), saying it is the “number one oil company in the world.”

Chevron, on Oct. 30, reported third-quarter adjusted earnings of $5.28 per share, beating analysts’ consensus estimate. Revenue surged 35.4% year over year to $65.237 billion from $48.169 billion, topping Wall Street expectations.

Price Action

• Okta shares fell 1.4% to settle at $168.69 on Friday.
• VF shares gained 0.2% to close at $20.35 during the session.
• Trinity Capital shares gained 0.3% to settle at $17.80.
• JPMorgan shares fell 0.8% to close at $334.49.
• Ameriprise Financial shares fell 1.5% to settle at $501.49.
• Cardinal Health shares gained 1.5% to close at $271.72.
• D-Wave shares jumped 18% to settle at $10.68 on Friday.
• Netflix shares fell 3.3% to close at $63.41.
• Chevron shares fell 0.2% to settle at $212.61.

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