5 Best Stocks Under $50

1. Canadian Natural Resources Limited (NYSE:CNQ)

Share Price as of July 21, 2022:  $47.55

Number of Hedge Fund Holders: 32

Canadian Natural Resources Limited (NYSE:CNQ) is, as its name suggests, a Canadian company that engages in the exploration and development of crude oil, natural gas, and natural gas liquids. It has millions of barrels of proven oil reserves and is headquartered in Calgary.

Canadian Natural Resources Limited (NYSE:CNQ) has one of the strongest dividend yields out there at 4.6%, and to further improve this, the dividend is growing at a compounded annual growth rate of 22%. Furthermore, the company has pledged to pay 50% of its cash flows to investors through share repurchases as long as its debt levels stay below $1.5 billion. Canadian Natural Resources Limited (NYSE:CNQ) also pays out a quarterly dividend of 58 cents per share, for an impressive dividend yield of 4.41%.

Canadian Natural Resources Limited (NYSE:CNQ) is also a rare company that saw a stock rating upgrade in July 2022, when BofA upgraded its rating to Buy and kept a $100 share price target. The only thing that kept the bank from increasing its share price is its gloomy outlook for crude oil prices. 32 of the 912 hedge funds researched by Insider Monkey in Q1 2022 had bought the energy company’s shares.

Canadian Natural Resources Limited (NYSE:CNQ)’s largest investor is Donald Yacktman’s Yacktman Asset Management which owns 16.9 million shares that are worth $1 billion.

Disclosure: None. You can also take a look at 10 Best Undervalued Automobile Stocks to Buy Now and 10 Semiconductor Stocks to Buy Today According to Billionaire Ken Fisher.

Follow Insider Monkey on Twitter