18 Best 52-Week Low Stocks to Buy Now According to Short Sellers

6. ConocoPhillips (NYSE:COP)

52 Week Range: $102.27 – $135.18

Current Share Price: $112.43

Number of Hedge Fund Holders: 72

Short interest rate: 1.37%

ConocoPhillips (NYSE:COP) is one of the best 52-week low stocks to buy now, according to short sellers. The company explores and markets crude oil, natural gas, and liquefied natural gas. The stock is only up 8% from its 52-week low, signaling a significant pullback over the past year.

ConocoPhillips (NYSE:COP)’s earnings have grown significantly over the last three months. By the end of June 2024, the company reported a revenue growth rate of around 10.27%, marking a notable rise in its overall income, largely due to increased production and higher oil prices. However, when compared to its rivals, the company faced challenges, with its growth rate falling short of the average in the Energy sector.

ConocoPhillips (NYSE:COP) ‘s profit margin stands out, surpassing the norm in the industry. With a remarkable profit margin of 17.05%, the company demonstrates robust profitability and efficient management of costs. ConocoPhillips’s debt-to-equity ratio falls below the sector average. With a ratio of 0.37, the firm depends less on borrowing, keeping a better equilibrium between its debt and equity, which investors see as a favorable aspect.

In the lead-up to the U.S. presidential elections, the oil and natural gas industry, encompassing ConocoPhillips, might experience a surge in activity, investment, and exports if a potential Trump administration comes into power.

The Federal Trade Commission closely examines ConocoPhillips (NYSE:COP) ‘s proposed merger with Marathon Oil. Despite this regulatory challenge, both companies are hopeful about the merger’s future and are collaborating closely with the FTC, expecting the deal to be completed by the fourth quarter of 2024. These are the latest updates on the company’s operations.

While trading at a price-to-earnings multiple of 12 compared, ConocoPhillips (NYSE:COP) rewards investors with a 2.80% dividend yield for generating some passive income. The short interest on the stock stood at 1.37% as of the end of July.

According to Insider Monkey’s database, there are 72 hedge funds bullish on ConocoPhillips (NYSE:COP) as of the end of June, up from 62 in the preceding quarter. With over 14.52 million shares, Eagle Capital Management was the company’s leading stakeholder in the second quarter.

Here is what Invesco Growth and Income Fund said about ConocoPhillips (NYSE:COP) in its Q2 2024 investor letter:

“Stock selection in the industrials and health care sectors detracted from relative performance during the quarter. Selection and an underweight in consumer staples also hurt relative return as the sector was one of just two index sectors with a positive return for the quarter. ConocoPhillips (NYSE:COP): The company announced its acquisition of Marathon Oil in May. The deal is expected to increase earnings and will increase the scale of Conoco’s production assets. However, the stock traded lower on the news.”