5 Best Very Cheap Stocks To Buy Now According To Hedge Funds

01. Southwestern Energy Company (NYSE:SWN)

Number of Hedge Fund Holders as of Q2, 2022: 47

Stock Price as of October 27: $6.68

Topping our list of the best very cheap stocks is Southwestern Energy Company (NYSE:SWN). Southwestern Energy Company (NYSE:SWN) is a Texas-based corporation involved in the exploration and production (E&P) of natural gas. Southwestern Energy Company (NYSE:SWN)’s share price has grown by a strong 41% year to date, compared to indexes such as the New York Stock Exchange, which has seen its value drop by 16%. On October 19, Jefferies analyst Lloyd Byrne initiated coverage of Southwestern Energy with a Buy rating and $11 price target.

For Q2, a total of 47 hedge funds are bullish on Southwestern Energy Company (NYSE:SWN) as compared to 35 in the previous quarter. Jim Simons’s Renaissance Technologies is Southwestern Energy Company (NYSE:SWN)’s largest investor. It owns 33 million shares that are worth $210 million.

Greenlight Capital discussed its outlook on Southwestern Energy Company (NYSE:SWN) in its Q1 2022 investor letter. Here’s what the firm said:

“SWN is the second largest producer of natural gas in the U.S. The company is well-situated to satisfy growing domestic and export demand. Over the short, medium and long term, Europe now intends to reduce its reliance on Russian energy and increase its use of U.S. LNG. Based on its 2021 year-end reserves – which assumed a $3.60/MMBtu long-term natural gas price – SWN has a PV-104 value of $13.83 per share. By the end of the first quarter, the U.S. natural gas 5-year forward curve averaged $4.28/MMBtu, while international seaborne LNG was close to $20/MMBtu. Over the intermediate term, with the benefit of substantial global investment in infrastructure, we expect prices for U.S. and international natural gas to converge. We acquired our shares at an average price of $6.58. SWN shares ended the quarter at $7.17.”

You can also take a look at the 10 Best Dividend Stocks on Robinhood and 11 Best Metal Stocks To Buy Now.

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