Skip Navigation

watchlive

Pre-Markets
U.S. Markets
Currencies
Cryptocurrency
Futures & Commodities
Bonds
Funds & ETFs

Economy
Finance
Health & Science
Media
Real Estate
Energy
Climate
Transportation
Industrials
Retail
Wealth
Sports
Life
Small Business

Personal Finance
Fintech
Financial Advisors
Options Action
ETF Street
Buffett Archive
Earnings
Trader Talk

Cybersecurity
Enterprise
Internet
Media
Mobile
Social Media
CNBC Disruptor 50
Tech Guide

White House
Policy
Defense
Congress
Equity and Opportunity

Live TV
Live Audio
Business Day Shows
Entertainment Shows
Full Episodes
Latest Video
Top Video
CEO Interviews
CNBC Documentaries
CNBC Podcasts
CNBC World
Digital Originals
Live TV Schedule

Trust Portfolio
Analysis
Trade Alerts
Meeting Videos
Homestretch
Jim's Columns
Education
Subscribe
Sign In

Pro News
Pro Live
Stock Screener
Market Forecast
Options Investing
Subscribe
Sign In

Make It

USA
INTL

watchlive

We're trimming another oil stock to book profits after some strong gains

Published Tue, Jul 26 20229:20 AM EDT

Jeff Marks @jeffmarkscnbc

Jim Cramer @jimcramer

We're selling 200 shares of Devon Energy (DVN) at roughly $59.23 each. Following Tuesday's trade, Jim Cramer's Charitable Trust will own 900 shares of DVN, decreasing its weighting in the portfolio to 1.82% from 2.21%. In-line with our prior commentary of paring down our energy exposure into strength so that we do not make the unforgivable mistake of turning gains into losses, we're trimming our position in Devon Energy on Tuesday morning, one day after selling some Chevron (CVX) shares. (On Monday, we bought some more shares of Halliburton (HAL) after a strong earnings beat and a tepid stock reaction. But net-net with the CVX sale, we reduced our energy exposure.) Shares of Devon, this best-in-class independent exploration and production company, had a strong day Monday, gaining 5% in what was a muted day for the broader market. DVN was up again in Tuesday's premarket. The relative outperformance is expected to continue Tuesday, with energy stocks poised to open higher for the second day in a row despite softness in the broader market. With this sale, we will realize a gain of about 28% on shares we purchased in January 2022. We will also downgrade our DVN rating to a 2 , meaning we would be buyers on a pullback. (Jim Cramer's Charitable Trust is long DVN, CVX and HAL. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CO