5 Undervalued Mid-Cap Stocks To Buy

4. Murphy Oil Corporation (NYSE:MUR)

PE Ratio: 7.05

Number of Hedge Funds Having Stakes in the Company: 31

Murphy Oil is a Fortune 500 company that has a PE ratio of 7 and a dividend yield of 2.4%, as of January 12. The stock was upgraded in December by JPMorgan. The investment firm’s analysts led by Arun Jayaram said in a note to investors that oil companies with conventional assets could benefit in a macro environment with execution and inventory related concerns for U.S. shale operations. For 2023, JPMorgan’s model for Murphy Oil Corporation (NYSE:MUR) expects oil production growth of 14%, which would result in EBITDA growth of 3% and adjusted free cash flow growth of 15% Y/Y.

As of the end of the third quarter, 31 hedge funds tracked by Insider Monkey reported having stakes in Murphy Oil Corporation (NYSE:MUR). The total value of these stakes was $283 million. Ken Griffin’s Citadel Investment Group is the biggest stakeholder of Murphy Oil Corporation (NYSE:MUR) with a $57.2 million stake.