5 Most Undervalued Foreign Stocks To Buy According To Hedge Funds

In this article, we discuss 5 most undervalued foreign stocks to buy according to hedge funds. If you want to see more stocks in this selection, check out 11 Most Undervalued Foreign Stocks To Buy According To Hedge Funds. 

5. Canadian Natural Resources Limited (NYSE:CNQ)

Number of Hedge Fund Holders: 41

P/E Ratio as of January 23: 7.99

Canadian Natural Resources Limited (NYSE:CNQ) was incorporated in 1973 and is headquartered in Calgary, Canada. The company acquires, explores for, develops, produces, markets, and sells crude oil, natural gas, and natural gas liquids. It is one of the most undervalued foreign stocks to invest in according to smart investors. On November 30, Canadian Natural Resources Limited (NYSE:CNQ) reported that it foresees increased production and higher planned capital spending for 2023. Targeted 2023 production mix consists of 44% of high value light and synthetic crude oil, 29% bitumen and heavy crude oil, and 27% natural gas. The budget C$5.2 billion for the year comprises C$4.2 billion in base capital and C$1 billion in strategic growth capital. 

According to Insider Monkey’s Q3 data, 41 hedge funds were long Canadian Natural Resources Limited (NYSE:CNQ), compared to 33 funds in the prior quarter. Donald Yacktman’s Yacktman Asset Management is the biggest stakeholder of the company, with 15.80 million shares worth over $736 million.