15 Cheapest Stocks Insiders Are Buying In March

4. EON Resources Inc. (NYSEAMERICAN:EONR)

Market Capitalization: $7.54 million

EON Resources Inc. is an independent oil and natural gas company focused on the acquisition, development, and production of properties in the Permian Basin. The Houston, Texas-based company holds a 100% working interest in 343 wells and 207 injection wells across 13,700 acres.

In recent developments, EON Resources signed a non-binding Letter of Intent (LOI) with Enstream Capital Management for a $52.8 million revenue-sharing and volumetric funding arrangement (VMA), expected to close by June 2025. The VMA capital will be used to settle the Seller consideration, pay off a reserve-based loan, and fund workovers on 45 wells. This agreement improves cash flow by $250,000 per month, reduces debt by $40 million, avoids stock dilution, and shields the company from oil price risk, all while retaining the option to buy back the ORRI at a minimal cost.

This month, two insiders, including the CFO, acquired approximately $87,419 worth of EON Resources shares at an average price of $0.53 per share. Year-to-date, the stock is down 28.67%, trading at $0.58 per share. Over the past 12 months, its shares have declined 78.50%.

According to StockAnalysis, one analyst rates EON Resources stock as a “Strong Buy” with a 12-month stock price target of $4.50.