In this piece, we will take a look at the five most profitable cheap stocks to buy. If you want to learn more about how stock valuations have been shaken up in 2023, then take a look at 12 Most Profitable Cheap Stocks To Buy.
5. Chesapeake Energy Corporation (NASDAQ:CHK)
Latest TTM Net Income: $5.3 billion
Latest P/E Ratio: 2.05
Chesapeake Energy Corporation (NASDAQ:CHK) is an American oil and gas exploration and production company headquartered in Oklahoma City, Oklahoma. The firm has beaten analyst EPS estimates in all four of its latest quarters and the stock is rated Buy on average.
Insider Monkey’s Q3 2023 survey of 910 hedge funds revealed that 45 had bought a stake in Chesapeake Energy Corporation (NASDAQ:CHK). Howard Marks’ Oaktree Capital Management was the largest investor among these due to its $603 million stake.
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Follow Chesapeake Energy Corp (NYSE:CHK)
4. Southwestern Energy Company (NYSE:SWN)
Latest TTM Net Income: $6.4 billion
Latest P/E Ratio: 1.36
Southwestern Energy Company (NYSE:SWN) is an American energy company headquartered in Spring, Texas. The firm sought to impress investors with its third quarter earnings, as it shared that it had reduced debt by $400 million and maintained free cash flow.
Insider Monkey scoured through 910 hedge fund portfolios for their September quarter of 2023 shareholdings to discover that 44 had invested in the company. Southwestern Energy Company (NYSE:SWN)’s biggest hedge fund shareholder is D. E. Shaw’s D E Shaw as it owns $185 million worth of shares.
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Follow Southwestern Energy Co (NYSE:SWN)
3. First Citizens BancShares, Inc. (NASDAQ:FCNCA)
Latest TTM Net Income: $11.1 billion
Latest P/E Ratio: 1.87
First Citizens BancShares, Inc. (NASDAQ:FCNCA) is an American regional bank headquartered in Raleigh, North Carolina. After acquiring the defunct Silicon Valley Bank earlier this year, it announced a $6.5 billion community benefits plan to manage SVB’s relationships.
By the end of this year’s third quarter, 46 out of the 910 hedge funds profiled by Insider Monkey were First Citizens BancShares, Inc. (NASDAQ:FCNCA)’s shareholders. Natixis Global Asset Management’s Harris Associates was the largest investor due to its $681 million stake.
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Follow First Citizens Bancshares Inc (NASDAQ:FCNCA)
2. Vodafone Group Public Limited Company (NASDAQ:VOD)
Latest TTM Net Income: $12.87 billion
Latest P/E Ratio: 1.95
Vodafone Group Public Limited Company (NASDAQ:VOD) is a British telecommunications company headquartered in Newbury, the United Kingdom. The firm is currently facing the heat in the U.K. after a class action lawsuit is targeting big telecommunications companies for allegedly charging ‘loyalty penalties’.
During this year’s September quarter, 22 out of the 910 hedge funds polled by Insider Monkey had invested in the firm. Vodafone Group Public Limited Company (NASDAQ:VOD)’s biggest shareholder among these is Jim Simons’ Renaissance Technologies as it owns $130 million worth of shares.
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Follow Vodafone Group Plc New (NASDAQ:VOD)
1. UBS Group AG (NYSE:UBS)
Latest TTM Net Income: $30.8 billion
Latest P/E Ratio: 3.10
UBS Group AG (NYSE:UBS) is a multinational Swiss diversified bank headquartered in Zurich, Switzerland. The firm is still dealing with the blow back of its Credit Suisse acquisition as now it is threatening to sue former Suisse employees to pay back their bonuses.
As of Q3 2023 end, 33 out of the 910 hedge funds surveyed by Insider Monkey had bought and owned UBS Group AG (NYSE:UBS)’s shares. was the largest investor through its $ stake.
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Follow U B S Ag (NYSE:UBS)
Disclosure: None. You can also take a look at 15 Undervalued S&P 500 Stocks Billionaires Are Loading Up On and 11 Best Fundamentally Strong Penny Stocks To Invest In.
