5 Cheap Jim Cramer Stocks to Buy Now

In this article, we will discuss the 5 cheap stocks to buy now according to Jim Cramer. If you want to explore similar stocks, you can go to 10 Cheap Jim Cramer Stocks to Buy Now.

5. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 55

PE Ratio (TTM) as of March 28: 5.33

Devon Energy Corporation (NYSE:DVN) is one of the best cheap stocks to buy according to Jim Cramer. As of March 28, the stock is trading at a PE multiple of 5x and is offering a forward dividend yield of 10.52%. Cramer recommended the stock in one of his lightning rounds.

On March 10, Mizuho analyst Nitin Kumar revised his price target on Devon Energy Corporation (NYSE:DVN) to $71 from $82 and maintained a Buy rating on the shares.

55 hedge funds disclosed having stakes in Devon Energy Corporation (NYSE:DVN) at the end of Q4 2022. The total value of these stakes amounted to $823.5 million. As of December 31, Yacktman Asset Management is the most prominent shareholder in the company and has a stake worth $172.5 million.

4. Nucor Corporation (NYSE:NUE)

Number of Hedge Fund Holders: 39

PE Ratio (TTM) as of March 28: 5.15

At the close of the fourth quarter of 2022, 39 hedge funds were bullish on Nucor Corporation (NYSE:NUE) and disclosed collective positions worth $551.3 million in the company. This is compared to 41 hedge funds in the previous quarter with stakes worth $402.9 million.

Cramer likes Nucor Corporation (NYSE:NUE), however he noted that “there’s a lot of pressure on the steel companies at this point of the business cycle” and he wants to buy when “the group goes lower”. As of March 28, Nucor Corporation (NYSE:NUE) is trading at a PE multiple of 5x and is offering a forward dividend yield of 1.37%.

As of December 31, Marshall Wace LLP is the top stockholder in Nucor Corporation (NYSE:NUE) and has a stake worth $146.5 million.

3. Phillips 66 (NYSE:PSX)

Number of Hedge Fund Holders: 36

PE Ratio (TTM) as of March 28: 4.24

This March, UBS started coverage of Phillips 66 (NYSE:PSX) with a Buy rating and a $139 price target. As of March 28, the stock has gained 22.51% over the past 6 months and is trading at a PE multiple of 4.24, while yielding 4.36%.

While Cramer did not recommend buying Phillips 66 (NYSE:PSX), he said “when you’re 5 times earnings, but your earnings are still gonna come out pretty good, you actually wanna hold the stock”.

At the end of Q4 2022, 36 hedge funds were long Phillips 66 (NYSE:PSX) and disclosed positions worth $819.9 million in the company. Of those, Citadel Investment Group was the leading investor in the company and held a stake worth $181.6 million.

2. GrafTech International Ltd. (NYSE:EAF)

Number of Hedge Fund Holders: 16

PE Ratio (TTM) as of March 28: 3.09

Cramer said GrafTech International Ltd. (NYSE:EAF) “is a winner” and “is too cheap”. He recommended buying the stock on one of his recent lightning rounds. As of March 28, the stock has a TTM PE ratio of 3.09 and is offering a forward divided yield of 0.88%. The stock is one of the best cheap Jim Cramer stocks to buy now.

On March 14, BMO Capital started coverage of GrafTech International Ltd. (NYSE:EAF) with a Market Perform and a $6.00 price target.

GrafTech International Ltd. (NYSE:EAF) was a part of 16 investors’ portfolios at the close of Q4 2022. These funds held collective stakes worth $97.4 million in the company.

As of December 31, Yacktman Asset Management is the top investor in GrafTech International Ltd. (NYSE:EAF) and has a stake worth $38.5 million.

1. Stellantis N.V. (NYSE:STLA)

Number of Hedge Fund Holders: 28

PE Ratio (TTM) as of March 28: 3.07

At the end of the fourth quarter of 2022, 28 hedge funds were bullish on Stellantis N.V. (NYSE:STLA) and disclosed positions worth $935 million in the company. Of those, Marshall Wace LLP was the leading stockholder in the company and disclosed a position worth $144.3 million.

This March, Berenberg analyst Adrian Yanoshik raised his price target on Stellantis N.V. (NYSE:STLA) to EUR 21 from EUR 18 and maintained a Buy rating on the shares.

Cramer mentioned Stellantis N.V. (NYSE:STLA) in one of his lightning rounds and said that he likes the stock because it is offering a good dividend, is profitable, and most of all, is cheap. As of March 28, Stellantis N.V. (NYSE:STLA) is trading at a PE multiple of 3x and is offering a forward dividend yield of 8.25%. Stellantis N.V. (NYSE:STLA) is one of the best cheap stocks to buy now according to Jim Cramer.

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