5 Cheap DRIP Stocks To Buy Now

1. Marathon Oil Corporation (NYSE:MRO)

P/E Ratio as of January 25: 5.36
Share Price as of January 25: $28.39

Marathon Oil Corporation (NYSE:MRO) tops our list of cheap DRIP stocks to buy now. The stock is trading at $28.39 per share and has a P/E ratio of 5.36, as of January 25. The energy company raised its quarterly dividend by 11% to $0.10 per share on January 25 and has a dividend yield of 1.27%. This marked the company’s seventh consecutive year of dividend growth.

Wells Fargo called Marathon Oil Corporation (NYSE:MRO) a ‘top pick for the sector’ in its January investor note. The firm initiated its coverage of the stock with an Overweight rating and a $41 price target.

At the end of Q3 2022, 50 hedge funds tracked by Insider Monkey presented a bullish stance on Marathon Oil Corporation (NYSE:MRO), up from 41 funds in the previous quarter. The stakes owned by these hedge funds have a total value of over $1 billion.

Carillon Tower Advisers mentioned Marathon Oil Corporation (NYSE:MRO) in its Q1 2022 investor letter. Here is what the firm has to say:

“Stock selection contributed the most while sector allocation was also positive. An underweight to communication services and an overweight to energy helped performance, while an underweight to consumer staples and an overweight to materials detracted. Stock selection was strong within healthcare and materials but was weak within information technology and industrials. Marathon Oil (NYSE:MRO) increased its quarterly dividend and executed an impressive share buyback that blew by the target it originally announced.”

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