5 Dirt Cheap Stocks To Buy

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1. Transocean Ltd. (NYSE:RIG)

Price as of January 12: $5.45

P/E Ratio: N/A

Number of Hedge Fund Holders: 36

Over the past six months Transocean shares have gained more than 100% in value, surpassing peers Valaris (NYSE:VAL), Noble Corp. (NYSE:NE), Seadrill (NYSE:SDRL) and Diamond Offshore Drilling (DO). However, the stock still looks dirt cheap and shows potential to gain in the near term as investors gain more confidence in Transocean Ltd. (NYSE:RIG)’s ability to fix its liquidity issues. Recently, Transocean Ltd. (NYSE:RIG) announced contract awards or extensions for five of its drilling rigs. Together, the fixtures represent approximately $488 million of firm backlog. In November, Transocean Ltd. (NYSE:RIG) said it expects its adjusted contract drilling revenues to be between $2.9 billion and $3 billion.

You can also take a peek at Top Stocks in Each Sector and Dow 30 Stocks List 2022.

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