In this piece, we will take a look at the five cheapest stocks with the biggest upside. If you want to learn more about stock valuation, then check out 11 Cheapest Stocks With Biggest Upside.
5. Telesat Corporation (NASDAQ:TSAT)
Number of Hedge Fund Investors In Q3 2023: 13
Latest P/E Ratio: 1.23
Telesat Corporation (NASDAQ:TSAT) is a satellite telecommunications firm headquartered in Ottawa, Canada. The firm made a big announcement in November 2023 when it shared that it has teamed up with a laser communications company to optimize its network.
During Q3 2023, 13 out of the 910 hedge funds surveyed by Insider Monkey had bought and owned Telesat Corporation (NASDAQ:TSAT)’s shares. Out of these, the biggest shareholder is Mark Rachesky’s MHR Fund Management since it owns 18 million shares that are worth $257 million.
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4. Amplify Energy Corp. (NYSE:AMPY)
Number of Hedge Fund Investors In Q3 2023: 14
Latest P/E Ratio: 0.67
Amplify Energy Corp. (NYSE:AMPY) is an oil and gas exploration and production company headquartered in Houston, Texas. Despite a slowdown in the U.S. energy sector this year, the firm has held up its financial fort as it has beaten analyst EPS estimates in three out of its four latest quarters.
As of September 2023 end, 14 out of the 910 hedge funds surveyed by Insider Monkey were the firm’s shareholders. Amplify Energy Corp. (NYSE:AMPY)’s largest hedge fund shareholder is Cliff Asness’ AQR Capital Management due to its $5.2 million investment.
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Follow Amplify Energy Corp. (NYSE:AMPY)
3. Obsidian Energy Ltd. (NYSE:OBE)
Number of Hedge Fund Investors In Q3 2023: 15
Latest P/E Ratio: 1.21
Obsidian Energy Ltd. (NYSE:OBE) is another oil and gas company but one that is headquartered in Calgary, Canada. The firm’s third quarter financial report outlined that its production grew by 10% annually on the back of the strong execution of its expansion initiatives.
Insider Monkey took a look at 910 hedge fund portfolios for their third quarter of 2023 shareholdings and discovered that 15 had bought Obsidian Energy Ltd. (NYSE:OBE)’s shares. Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital owned the biggest stake among these since it owned 1.5 million shares that were worth $12.4 million.
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Follow Obsidian Energy Ltd. (NYSE:OBE)
2. Vital Energy, Inc. (NYSE:VTLE)
Number of Hedge Fund Investors In Q3 2023: 30
Latest P/E Ratio: 1.50
Vital Energy, Inc. (NYSE:VTLE) is engaged in energy production in West Texas, U.S.A. Hit hard by a cooling energy industry in 2023, the firm has missed analyst EPS estimates in three out of its four latest quarters.
During 2023’s September quarter, 30 among the 910 hedge funds tracked by Insider Monkey had invested in the firm. Vital Energy, Inc. (NYSE:VTLE)’s largest hedge fund investor is Sameer Sethna’s Aventail Capital Group due to its $60.1 million stake.
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Follow Vital Energy Inc. (NYSE:VTLE)
1. Southwestern Energy Company (NYSE:SWN)
Number of Hedge Fund Investors In Q3 2023: 44
Latest P/E Ratio: 1.48
Southwestern Energy Company (NYSE:SWN) is a semi-diversified oil and gas company with exploration and marketing business divisions. Its shares are rated Buy on average and saw some action in November 2023 when Wolfe Research upgraded the rating from Underperform to Outperform.
44 out of the 910 hedge funds polled by Insider Monkey had held a stake in Southwestern Energy Company (NYSE:SWN) in Q3 2023. D. E. Shaw’s D E Shaw owned the biggest stake among these which was worth $185 million.
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Follow Southwestern Energy Co (NYSE:SWN)
Disclosure: None. You can also take a look at Billionaire Paul Tudor Jones and Insiders Love These 11 Stocks and 11 Best Cheap Stocks To Buy For Long Term.
