5 Cheap Stocks to Buy According to Billionaire Ken Fisher

In this article, we will take a look at the 5 cheap stocks to buy according to billionaire Ken Fisher. If you want to read our comprehensive analysis of the history and investment philosophy of Ken Fisher and his fund Fisher Asset Management, go directly to 10 Cheap Stocks to Buy According to Billionaire Ken Fisher.

5. BP plc (NYSE:BP)

Fisher Asset Management’s Stake Value: $345.321 million

Percentage of Fisher Asset Management’s 13F Portfolio: 0.21%

Number of Hedge Fund Holders as of Q3 2021: 29

Stock Price as of December 8, 2021: $27.59

Return since December 8. 2021: 17%

In December, the London-based oil and gas company announced its acquisition of AMPLY Power, a strategic move to participate in the automobile electrification in the US. Earlier known as British Petroleum, the company operates in 78 countries worldwide.

On November 2, BP plc (NYSE:BP) announced its Q3 revenue of $36.2 billion that showed an annual growth of 38% and surpassed estimates by $4.1 billion. Following this, in December, James Hubbard, an analyst at Deutsche Bank, upgraded the stock to “Buy” from its previous position of “Hold”.

Fisher Asset Management owns over 12 million shares of the company as of Q3 2021, with a total value of $345 million. Moreover, the fund increased its stake in BP plc (NYSE:BP) by 6% during the third quarter of 2021, which suggests a positive hedge fund sentiment about the stock. Overall, by the end of the September quarter, 29 funds out of the 867 funds tracked by Insider Monkey held stakes in BP plc (NYSE:BP) worth over $1 billion, down from 30 funds by the end of Q2.