5 Cheap Energy Stocks To Buy

In this piece, we will take a look at the five cheap energy stocks to buy. If you want to take a deeper look at the recent trends in the industry industry, then read 13 Cheap Energy Stocks To Buy.

5. Earthstone Energy, Inc. (NYSE:ESTE)

Forward Price To Earnings Ratio: 3.21

Number of Hedge Fund Investors In Q2 2023: 22

Earthstone Energy, Inc. (NYSE:ESTE) is an American oil company with operations in New Mexico and Texas. The firm is currently at the center of a broader trend of consolidation in the U.S. oil sector, and it completed a $5.4 billion merger in November 2023 for this purpose.

For their June quarter of 2023 shareholdings, 22 out of the 910 hedge funds part of Insider Monkey’s database were Earthstone Energy, Inc. (NYSE:ESTE)’s investors. Shaia Hosseinzadeh’s OnyxPoint Global Management owns the largest stake among these, which is worth $82 million.

4. YPF Sociedad Anónima (NYSE:YPF)

Forward Price To Earnings Ratio: 3.16

Number of Hedge Fund Investors In Q2 2023: 12

YPF Sociedad Anónima (NYSE:YPF) is a diversified Argentinian energy company with oil and energy production operations. It is one of the most weakly rated stocks on our list through an average share rating of Hold. YPF Sociedad Anónima (NYSE:YPF) investors were dealt with some bad news in October 2023 as Goldman Sachs reiterated a Sell rating on the stock and cut the share price target to $8.3 from $9.5.

As of Q2 2023 end, 12 out of the 910 hedge funds polled by Insider Monkey had held a stake in the energy company. YPF Sociedad Anónima (NYSE:YPF)’s biggest hedge fund investor is Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital through its $42 million investment.

3. VAALCO Energy, Inc. (NYSE:EGY)

Forward Price To Earnings Ratio: 3.12

Number of Hedge Fund Investors In Q2 2023: 11

VAALCO Energy, Inc. (NYSE:EGY) is an American oil firm with operations in Africa. The firm has been in a world of trouble as of late since it has missed analyst EPS estimates in all of its five latest quarters. Yet, more than half of its outstanding shares are owned by institutional investors, lending some credibility to the stock.

Insider Monkey dug through 910 hedge fund holdings for this year’s second quarter and found that 11 had bought and owned VAALCO Energy, Inc. (NYSE:EGY)’s shares. George Baxter’s Sabrepoint Capital owns the largest stake among these, which is worth $10.5 million and comes via 2.7 million shares.

2. Vital Energy, Inc. (NYSE:VTLE)

Forward Price To Earnings Ratio: 2.91

Number of Hedge Fund Investors In Q2 2023: 23

Vital Energy, Inc. (NYSE:VTLE) is a small American oil company with a presence in West Texas. It is currently busy scaling up its Permian Basin operations, and as part of this, the firm added 248 billion of oil equivalent reserves to its portfolio in September 2023.

As of June 2023, 23 out of the 910 hedge funds part of Insider Monkey’s research had invested in the company. Vital Energy, Inc. (NYSE:VTLE)’s biggest investor in our database is Israel Englander’s Millennium Management as it owns $15.8 million worth of shares.

1. GeoPark Limited (NYSE:GPRK)

Forward Price To Earnings Ratio: 2.12

Number of Hedge Fund Investors In Q2 2023: 11

GeoPark Limited (NYSE:GPRK) is a Colombian oil company with operations in several South American countries. Its average share price target of $16.71 prices in an 86% share price upside over the current share price of $8.94, making it a cheap energy stock worth looking out for.

11 out of the 910 hedge funds tracked by Insider Monkey during Q2 2023 were GeoPark Limited (NYSE:GPRK)’s investors. Jim Simons’ Renaissance Technologies owns the largest stake among these, which is worth $30.9 million.

Disclosure: None. You can also take a look at 15 States with the Best Roads in the US and 12 Best Small-Cap Biotech Stocks with Massive Potential According to Hedge Funds.

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