5 Cheap Jim Cramer Stocks to Buy Now

3. Phillips 66 (NYSE:PSX)

Number of Hedge Fund Holders: 36

PE Ratio (TTM) as of March 28: 4.24

This March, UBS started coverage of Phillips 66 (NYSE:PSX) with a Buy rating and a $139 price target. As of March 28, the stock has gained 22.51% over the past 6 months and is trading at a PE multiple of 4.24, while yielding 4.36%.

While Cramer did not recommend buying Phillips 66 (NYSE:PSX), he said “when you’re 5 times earnings, but your earnings are still gonna come out pretty good, you actually wanna hold the stock”.

At the end of Q4 2022, 36 hedge funds were long Phillips 66 (NYSE:PSX) and disclosed positions worth $819.9 million in the company. Of those, Citadel Investment Group was the leading investor in the company and held a stake worth $181.6 million.