Jim Cramer's Investing Club meeting Tuesday: TJX, oil, Club donation

Published Tue, Feb 21 202311:55 AM EST

Kevin Stankiewicz @in/kevin-stankiewicz-b5593466 @kevin_stank

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Tuesday's key moments. Stick with TJX Sit tight on oil Charitable donation 1. Stick with TJX Shares of TJX Companies (TJX) could trade lower Wednesday morning following the off-price retailer's fourth-quarter earnings report. That's a typical post-earnings move for TJX, before the stock gradually moves higher again, Jim Cramer said Tuesday. Retail stocks are in the spotlight Tuesday after Home Depot (HD) and Walmart (WMT) released quarterly results, with both issuing cautious guidance for the year ahead . While TJX's outlook could also come in on the conservative side, the Club continues to back the operator of stores like TJ Maxx and Marshalls as the best-positioned retailer in the current economic climate. Shares of TJX were down nearly 0.8% in midmorning trading, at $79.20 apiece. 2. Sit tight on oil Oil stocks have likely experienced a reset, which is why we trimmed our positions in oil-and-gas producers Pioneer Natural Resources (PXD) and Coterra Energy (CTRA) on Friday. We also downgraded the stock ratings on both to a 2, putting the Club on the oil sidelines for now. The move came after Club holding Devon Energy (DVN) delivered a disappointing fourth quarter last week, while issuing a fixed-plus-variable dividend distribution to shareholders below Wall Street's forecasts. That sent shares sliding, and we suspect the market could respond similarly when Pioneer and Coterra – both of which also provide a fixed-plus-variable dividend — report quarterly results Wednesday. Meanwhile, the price of West Texas Intermediate crude was mainly flat Tuesday, trading at around $76.47 a barrel. 3. Charitable donation We made a host of stock sales Tuesday morning to help fund our annual donation to charity. This year's contribution is $326,951, consisting of all dividend income and realized capital gains. Including the latest distribution, the Club has donated about $4.1 million to charity since Jim Cramer's Charitable Trust was launched in 2005. Our charity sales Tuesday impacted 23 stocks in the portfolio, and once we make the distribution we'll still have a roughly 10% cash position. (Jim Cramer's Charitable Trust is long TJX, PXD, DVN and CTRA. 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 CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.