5 Cheap New Stocks To Buy

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1. Seadrill Limited (NYSE:SDRL)

Price To Trailing Earnings Ratio: 0.67

Seadrill Limited (NYSE:SDRL) is a drilling services provider that deals with offshore oil equipment. Its shares were listed on the NYSE in October 2022, and since then they have gained a hefty 63% on the market. Analysts still believe that there is a lot of upside to the stock, as they have set an average share price target of $55.

Insider Monkey dug through 910 hedge funds for their investments during this year’s June quarter and found 30 Seadrill Limited (NYSE:SDRL) investors. Paul Singer’s Elliott Management owns the largest stake among these, which is worth $291 million.

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Disclosure: None. You can also take a look at Morgan Stanley’s 15 Stock Picks for 2023 and 13 Cheap Energy Stocks To Buy.

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