5 Most Undervalued NASDAQ Stocks To Buy According To Hedge Funds

1. Chesapeake Energy Corporation (NASDAQ:CHK)

Number of Hedge Fund Holders: 70

P/E Ratio as of January 24: 5.61

Chesapeake Energy Corporation (NASDAQ:CHK) is an Oklahoma-based independent exploration and production company, focused on the acquisition, exploration, and development of properties for the production of oil, natural gas, and natural gas liquids from underground reservoirs in the United States. On January 19, Credit Suisse analyst William Janela reiterated an Outperform rating on Chesapeake Energy Corporation (NASDAQ:CHK) and lowered the firm’s price target on the shares to $130 from $135 after the company announced it will sell its Eagle Ford Brazos Valley assets for $1.425 billion in cash. 

According to Insider Monkey’s data, 70 hedge funds were long Chesapeake Energy Corporation (NASDAQ:CHK) at the end of Q3 2022, compared to 67 funds in the last quarter. Howard Marks’ Oaktree Capital Management is the leading position holder in the company, with 9.80 million shares worth $923.25 million. 

Carillon Tower Advisers made the following comment about Chesapeake Energy Corporation (NASDAQ:CHK) in its Q3 2022 investor letter:

“Chesapeake Energy Corporation (NASDAQ:CHK), a natural gas exploration and production company, emerged from bankruptcy with little fanfare in 2021, despite having rid itself of its debt burden and onerous pipeline contracts. The company was able to make two large acquisitions at very reasonable prices within its core producing areas, allowing for scale and cost savings. Then in 2022, natural gas prices began to rise well above expectations, increasing the value of Chesapeake’s large natural gas resources and production and contributing to its outperformance.”

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