News Formal

Jim Cramer says there is a bull market in oil and gas thanks to recent big mergers

  • 📰 nbcsandiego
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 51%

Indonesia Berita Berita

Indonesia Berita Terbaru,Indonesia Berita utama

CNBC’s Jim Cramer said oil stocks are increasing in value thanks to two major oil company mergers as well as the rising price of crude.

Chevron announced Monday it would buy Hess in a $53 billion deal, while Exxon Mobil agreed to buy rival Pioneer Natural Resources for $59.5 billion earlier in October.on Monday said he sees a bull market in oil and gas. He said oil stocks are increasing in value thanks to two major oil company mergers as well as the rising price of crude.

"I'd argue that there's always a bull market somewhere and right now it's in the oil and gas cohort group," Cramer said.These recent mergers reminded Cramer of oil takeovers in the early 1980s, when he said major companies realized"it was cheaper to drill for oil on Wall Street than in the ground." To Cramer, Chevron can use its large budget to make deals that increase earnings almost immediately.

 

Terima kasih atas komentar Anda. Komentar Anda akan dipublikasikan setelah ditinjau.
Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

 /  🏆 524. in İD

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Jim Cramer's top 10 things to watch in the stock market MondayU.S. equities edge lower in premarket trading Monday, while Club holding Walt Disney is reportedly close to selling its India operations.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »

Jim Cramer urges patience before buying stocks this week. Here's why.CNBC’s Jim Cramer said investors shouldn’t read too much into Monday’s stock moves.
Sumber: NBCLA - 🏆 319. / 59 Baca lebih lajut »

Jim Cramer urges patience before buying stocks this week. Here's why.CNBC’s Jim Cramer said investors shouldn’t read too much into Monday’s stock moves.
Sumber: NBCDFW - 🏆 288. / 63 Baca lebih lajut »

Cramer explains what geopolitical upheaval means for the stock marketThe Investing Club holds its Morning Meeting every weekday at 10:20 a.m. ET.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »

Jim Cramer says there is a bull market in oil and gas thanks to recent big mergersCNBC's Jim Cramer said oil stocks are increasing in value thanks to two major oil company mergers as well as the rising price of crude.
Sumber: CNBC - 🏆 12. / 72 Baca lebih lajut »