5 Best Stocks Under $50

In this article, we will look at the 5 best stocks to buy under $50. If you want to explore similar stocks, you can also take a look at 12 Best Stocks Under $50.

5. Murphy Oil Corporation (NYSE:MUR)

Share Price as of October 21: $48.42

Number of Hedge Fund Holders: 27

Murphy Oil Corporation (NYSE:MUR) is an international oil and gas company with upstream operations in the United States, Canada, Malaysia, and the United Kingdom. The company’s downstream operations include refining and marketing operations in the United States, Canada, the United Kingdom, and Ireland. The company has a strong cash position and a healthy balance sheet. Murphy Oil Corporation (NYSE:MUR) has free cash flows of $870.6 million and is trading at a PE multiple of 14x, as of October 21.

This October, Piper Sandler analyst Mark Lear raised his price target on Murphy Oil Corporation (NYSE:MUR) to $62 from $46 and maintained an Overweight rating on the shares. On October 19, Jefferies analyst Lloyd Byrne took coverage of Murphy Oil Corporation (NYSE:MUR) with a Hold rating and a $43 price target.

At the end of Q2 2022, 27 hedge funds were long Murphy Oil Corporation (NYSE:MUR) and held stakes worth $189.3 million in the company. This is compared to 20 positions in the previous quarter with stakes worth $167 million. The hedge fund sentiment for the stock is positive.

As of June 30, Encompass Capital Advisors is the largest investor in Murphy Oil Corporation (NYSE:MUR) and has stakes worth $31 million in the company.