In this piece, we’ll take a look at the 5 Best Undervalued Stocks To Buy Now. For more such companies, go to 13 Best Undervalued Stocks To Buy Now.
5. Stellantis N.V. (NYSE:STLA)
Forward P/E ratio as of December 19: 3.15
Number of Hedge Fund Holders: 25
Founded in 2021, Stellantis N.V. (NYSE:STLA) is the fourth largest automaker, with annual sales of around 80 million vehicles and 400,000 employees. In 2021, the company had a sales volume of 6.1 million vehicles. Europe is Stellantis N.V. (NYSE:STLA)’s largest market accounting for 47% of its total global volume in 2021, while North America and South America account for 30% and 14% of it, respectively.
On October 20, 2022, Anindya Das, an analyst at Nomura, raised his price target on Stellantis N.V. (NYSE:STLA) to €19.80 and upgraded the rating on the stock to Buy. The analyst anticipates pressure on wholesale volume in Europe in 2023 but believes Stellantis N.V. (NYSE:STLA) should be able to withstand the challenging circumstances in Europe, given its reduced breakeven point following the merger.
25 hedge funds were long on the company’s stock at the end of the third quarter, according to Insider Monkey’s database. Arrowstreet Capital had the biggest long position in the company at the end of Q3 2022.
4. Woori Financial Group Inc. (NYSE:WF)
Forward P/E ratio as of December 19: 2.92
Number of Hedge Fund Holders: 3
Woori Financial Group Inc. (NYSE:WF) is among the four largest commercial banking groups in Korea. The company provides several commercial banking services such as deposit services, bill services, loan services, settlement services, credit cards, online banking, and other related services.
On October 25, 2022, Woori Financial Group Inc. (NYSE:WF) reported its third-quarter result. The company’s revenue for Q3 2022 stood at $2.02 billion. The Normalized EPS stood at $2.73, beating market expectations by $0.12.
According to Insider Monkey’s database, 3 hedge funds held stakes in Woori Financial Group Inc. (NYSE:WF) at the end of the third quarter. Arrowstreet Capital remained the leading stakeholder in the company at the end of Q3 2022.
3. Callon Petroleum Company (NYSE:CPE)
Forward P/E ratio as of December 19: 2.20
Number of Hedge Fund Holders: 21
Callon Petroleum Company (NYSE:CPE) is an independent oil and natural gas company that engages in the exploration, acquisition, development, and production of natural gas and oil properties. The company primarily operates in the Permian Basin region of West Texas and southeastern New Mexico.
On November 2, 2022, Callon Petroleum Company (NYSE:CPE) reported its Q3 2022 result. The sales for the quarter were reported at $835.88 million, beating market expectations by $145.76 million. The Normalized EPS of the company during the quarter stood at $4.04. Joe Gatto, president, and CEO of the company, while commenting on the results, mentioned that the company experienced substantial production growth this quarter due to enhanced well productivity and completion efficiencies that improved cycle times for bigger projects.
As per Insider Monkey’s database, 21 hedge funds remained bullish on Callon Petroleum Company (NYSE:CPE) at the end of the third quarter. Marshall Wace LLP had the biggest stake in the company at the end of the third quarter.
2. Ring Energy, Inc. (NYSE:REI)
Forward P/E ratio as of December 19: 1.94
Number of Hedge Fund Holders: 10
Headquartered in Midland, Texas, Ring Energy, Inc. (NYSE:REI) is an independent oil and natural gas company that focuses on the acquisition, exploration, production, and development of oil and natural gas fields in the Permian and Mid-Continent regions of the US. The majority of the company’s production is done through the vertical drilling of wells.
On November 9, 2022, Ring Energy, Inc. (NYSE:REI) reported its third-quarter result with revenue of $94.41 million for the quarter. The company’s Normalized EPS stood at $0.28, beating market expectations by $0.04. The CEO, while commenting on the results, stated that the acquisition of Stronghold’s complementary CBP asset base has dramatically boosted the size and scale of the company, materially expanded the portfolio of projects with low cost and high rate of return, and reduced overall cost structure improving the company’s ability to generate free cash flow.
As per Insider Monkey’s database, 10 hedge funds remained bullish on Ring Energy, Inc. (NYSE:REI) at the end of Q3 2022. Two Sigma Advisors came out to be the biggest holder of the company’s shares at the end of the quarter.
1. Laredo Petroleum, Inc. (NYSE:LPI)
Forward P/E ratio as of December 19: 1.65
Number of Hedge Fund Holders: 20
Laredo Petroleum, Inc. (NYSE:LPI) operates exclusively in the Permian and Mid-Continent regions of the United States as an independent oil and gas company. It focuses on the exploration, development, and acquisition of natural gas and oil properties.
On December 12, 2022, John Freeman, an analyst at Raymond James, reduced his price target on Laredo Petroleum, Inc. (NYSE:LPI) to $63 while keeping an Outperform rating on the stock.
According to Insider Monkey’s database, 20 hedge funds held shares of the company at the end of the third quarter of 2022. Millennium Management was the most bullish fund on the company’s stock at the end of Q3 2022.
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