15 Cheap Stocks Under $50 to Buy Right Now

11. Equinor ASA (NYSE:EQNR)

Equinor ASA (NYSE:EQNR) is one of the best cheap stocks under $50 to buy right now. On February 25, JPMorgan lifted the price target on Equinor ASA (NYSE:EQNR) to NOK 240 from NOK 220 and reaffirmed an Underweight rating on the shares. In a separate development, Equinor ASA (NYSE:EQNR) and Eneco announced on February 5 the signing of a 5-year agreement for deliveries of gas to Eneco, with the volumes up to 0.5 billion cubic meters (bcm) per year, and deliveries to the Dutch gas grid from 1 February this year. Eneco is a main supplier of natural gas, electricity, and heat in the Netherlands.

Management reported that the agreement concerns gas with a lower-than-average greenhouse gas footprint due to the production and transport of gas on the Norwegian continental shelf having a smaller greenhouse gas footprint than other sources of gas supplied to Europe. Equinor ASA (NYSE:EQNR) further reported that, in addition to the supply of gas, it will transfer guarantees of origin, named ‘sustainability qualities’, to Eneco through a platform operated by provider Attributes SAS. Eneco stated the agreement would lower its CO2 emissions by more than 10%.

​Equinor ASA (NYSE:EQNR) explores, transports, produces, refines, and markets petroleum and petroleum-derived products. The company’s operations are divided into the following segments: Exploration and Production Norway, Exploration and Production International, Exploration and Production USA, Marketing, Midstream, and Processing, Renewables, and Other.