In this article, we discuss 5 cheap oil stocks to buy in 2022. If you want to read our detailed analysis of these stocks, go directly to 10 Cheap Oil Stocks to Buy in 2022.
5. Crescent Point Energy Corp. (NYSE:CPG)
Number of Hedge Fund Holders: 11
Real-Time Share Price as of February 14: $6.70
Crescent Point Energy Corp. (NYSE:CPG) operates as an oil and gas firm. Recent reports indicate that the company is planning to sell some of the assets it owns in Alberta and Saskatchewan. The firm expects the sales to fetch nearly $394 million. The sale is being considered in three separate packages. In December, the company raised the dividend payout by 50% and boosted 2022 production numbers.
Top hedge funds hold large stakes in Crescent Point Energy Corp. (NYSE:CPG). Among the hedge funds being tracked by Insider Monkey, Boston-based firm Arrowstreet Capital is a leading shareholder in Crescent Point Energy Corp. (NYSE:CPG), with 11 million shares worth more than $52 million.
4. Southwestern Energy Company (NYSE:SWN)
Number of Hedge Fund Holders: 22
Real-Time Share Price as of February 14: $4.83
Southwestern Energy Company (NYSE:SWN) is an independent energy firm. There is mixed hedge fund sentiment around the stock. At the end of the third quarter of 2021, 22 hedge funds in the database of Insider Monkey held stakes worth $263 million in Southwestern Energy Company (NYSE:SWN), compared to 27 in the preceding quarter worth $257 million.
On January 21, Goldman Sachs analyst Neil Mehta reinstated coverage of Southwestern Energy Company (NYSE:SWN) stock with a Neutral rating and a price target of $5.25, noting that the focus of the firm in the near-term will be on debt reduction.
3. W&T Offshore, Inc. (NYSE:WTI)
Number of Hedge Fund Holders: 17
Real-Time Share Price as of February 14: $4.56
W&T Offshore, Inc. (NYSE:WTI) is a Texas-based oil and gas producer. On January 10, the firm announced that it had agreed to purchase producing properties in the Gulf of Mexico in a deal worth around $47 million. The transaction in this regard will be completed by the end of the first quarter of 2022. The purchase includes 53 oil producing wells and 16 structures.
Major hedge funds are bullish on W&T Offshore, Inc. (NYSE:WTI). Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Millennium Management is a leading shareholder in W&T Offshore, Inc. (NYSE:WTI), with 1.6 million shares worth more than $6.1 million.
2. Helix Energy Solutions Group, Inc. (NYSE:HLX)
Number of Hedge Fund Holders: 12
Real-Time Share Price as of February 14: $3.97
Helix Energy Solutions Group, Inc. (NYSE:HLX) is an offshore energy services firm. At the end of the third quarter of 2021, 12 hedge funds in the database of Insider Monkey held stakes worth $4.6 million in Helix Energy Solutions Group, Inc. (NYSE:HLX), the same as in the previous quarter worth $4.7 million.
On January 31, Piper Sandler analyst Ian Macpherson upgraded Helix Energy Solutions Group, Inc. (NYSE:HLX) stock to Overweight from Neutral and raised the price target to $5.6 from $4.5, noting that higher energy prices will benefit the stock in the near-term.
1. PHX Minerals Inc. (NYSE:PHX)
Number of Hedge Fund Holders: 9
Real-Time Share Price as of February 14: $2.36
PHX Minerals Inc. (NYSE:PHX) is a natural gas and oil mineral firm. The company has paid a dividend to shareholders for the past 32 years. In December 2021, it declared a quarterly dividend of $0.015 per share, an increase of 50% from the previous dividend of $0.010.
There is positive hedge fund sentiment around PHX Minerals Inc. (NYSE:PHX). At the end of the third quarter of 2021, 9 hedge funds in the database of Insider Monkey held stakes worth $7.9 million in PHX Minerals Inc. (NYSE:PHX), up from 7 the preceding quarter worth $10.9 million.
You can also take a peek at 10 Best EV SPACs to Buy Now and 10 Best Lithium and Phosphate Stocks to Buy Now.
