10 Cheap Large Cap Stocks to Buy According to Hedge Funds

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

Market Cap: $67.65 billion

Forward P/E: 13.07

Number of Hedge Fund Holders: 64

EOG Resources, Inc. (NYSE:EOG) is one of the 10 Cheap Large Cap Stocks to Buy According to Hedge Funds. On July 9, Roth Capital analyst Leo Mariani downgraded EOG Resources, Inc. (NYSE:EOG) to Neutral from Buy, lowering the price target to $134 from $140.

The firm supported this downward revision in rating to global oil prices, which are close to a near-term top, and stated that it is seeing risk to the downside for oil prices in the second half of the year.

The analyst also told investors in a research note that OPEC+ seems likely to add back a certain amount of oil to global markets between April 1 and September 30. These volumes are expected to put the global oil markets into an oversupplied state.

EOG Resources, Inc. (NYSE:EOG) explores, develops, produces, and markets natural gas and crude oil. Its operations are divided into the following geographical segments: United States, Trinidad, and Other International.