5 Best Cheap Stocks to Buy Now

In this article, we discuss the 5 best cheap stocks to buy now. If you want to read more on other cheap stocks, the risk/reward, and the methodology of this list, go directly to the 10 Best Cheap Stocks to Buy Now. 

5. Chevron Corporation (NYSE:CVX)

Forward P/E Ratio: 9.48

Number of Hedge Fund Holders: 59

Chevron Corporation (NYSE:CVX) operates in the integrated energy and chemical business sector globally.

Although lower oil prices could send the stock lower, Chevron Corporation (NYSE:CVX) could be a cheap stock given its forward P/E ratio of 9.48 if it successfully transitions to renewable energy or if oil prices remain high.

As it stands, Chevron Corporation (NYSE:CVX) is a blue chip given its economies of scale and its balance sheet. The company also has a strong dividend history with Chevron Corporation (NYSE:CVX) having continuously increased its annual dividend for the past 34 years.

Many hedge funds like the stock. At the end of the second quarter of 2022, 59 hedge funds in the database of Insider Monkey held stakes worth $26 billion in Chevron Corporation (NYSE:CVX). When looking at the institutional investors followed by Insider Monkey, Warren Buffett’s Berkshire Hathaway is the largest stakeholder in Chevron Corporation (NYSE:CVX) with shares valued at $23.37 billion comprising 7.78% of its 13F portfolio.