10 Best Cheap Stocks to Buy According to Billionaire Ray Dalio

5. EOG Resources, Inc. (NYSE:EOG)

Forward Price-to-Earnings: 13.81

Number of Hedge Fund Holders: 64

EOG Resources, Inc. (NYSE:EOG) is one of the 10 Best Cheap Stocks to Buy According to Billionaire Ray Dalio. Bridgewater Associates holds over $42 million worth of shares of EOG, which represents 0.20% of its portfolio.

On June 26, 2025, UBS maintained a ‘Buy’ rating on EOG Resources, Inc. (NYSE:EOG), while also keeping a price target of $140. This update follows EOG’s executive meeting in Europe and discussions with the investor relations team. The discussion highlighted the company’s operational strength, along with its focus on Lower48.

Furthermore, the potential upside from EOG’s acquisition of Utica was also talked about in the executive meeting. Meanwhile, UBS analysts pointed toward EOG Resources, Inc.’s (NYSE:EOG) demonstration of resilience in a volatile oil market and an opportunity to capitalize on rising natural gas prices. Moreover, EOG’s acquisition of Encino Acquisition Partners in May 2025 is expected to expand the company’s footprint in the Utica Shale.

EOG Resources, Inc. (NYSE:EOG), based in the U.S., is focused on hydrocarbon exploration, exploring, developing, and marketing crude oil, natural gas, and NGLs globally. It is among the list of cheap stocks to buy.