You might that a stock directly linked to the price of oil would have made a similar move. But, the opposite has happened here.
We're buying 25 shares of Pioneer Natural Resources at roughly $223.94 each. Following Thursday's trade, Jim Cramer's Charitable Trust will own 300 shares of PXD, increasing its weighting in the portfolio to 2.4% from 2.2%. We're picking up shares of Pioneer for two reasons. The first is to put some money to work in what has been a nasty market over the past few days. It is stretches like this are why we always keep some cash on the sidelines.
"Oil at $92 going to $100, our new prognosis, put together with the help of my favorite commodity technician, Carley Garner, and the best oil strategist, Rusty Braziel, make me want to own two oil and gas companies. We had three, Halliburton [which we sold and Coterra Energy is the other], and I felt too exposed.
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