In this article we discuss the 5 cheap oil stocks under $10. If you want to read our detailed analysis of the oil industry, go directly to 10 Cheap Oil Stocks Under $10.
5. Enerplus Corporation (NYSE: ERF)
Stock Price: $5.23 via Yahoo Finance.
Enerplus Corporation is a crude oil and natural gas exploration and development company that operates in Canada and the US. Its crude oil and natural gas reserves are primarily located in Montana, Pennsylvania, Colorado, North Dakota, Alberta, Saskatchewan, and British Columbia. Currently, the company is unable to generate any positive free cash flow to cover the dividend and the quarterly revenue growth was -40.10 % according to Yahoo Finance. The company has an overall market cap if $1.178 billion with their revenue per share being 3.09 (ttm). However, Enerplus has a certain hedge in its natural gas operations which is still fairly profitable today.
4. Vermilion Energy Inc. (NYSE: VET)
Stock Price: $6.54 via Yahoo Finance
Vermilion Energy Inc is an oil exploration and production company that has operations in North America, Australia, and Europe. The company has diversified across different continents which has given it an advantage as compared to the other upstream players. Vermilion Energy was founded in 1994 and is currently headquartered in Calgary, Canada. With a market cap of $1.109 billion, it was ranked at the top of their peer group in 2020 in the SAM Corporate Sustainability Assessment. The company was also selected for The Sustainability Yearbook 2021, which reflects CSA sustainability performance is within the top 15% of the industry. With a current stock price of $6.54 and a high revenue per share of $6.41 (ttm), Vermilion Energy has promising estimates that investors look for. The company is currently focusing on cost reductions and generating positive free cash flow.
3. Enable Midstream Partners, LP (NYSE: ENBL)
Stock price: $6.67 via Yahoo Finance
Enable Midstream Partners LP owns and operates in crude oil and natural gas infrastructure products. It is involved in gathering, processing, storing, and transporting crude oil and natural gas. Its infrastructure includes 14000 miles of gathering pipeline and 84.5 Bcf gas storage capacity. The annual dividend yield is $0.661 per share. The company has high liquidity with an average of 500,000 shares being traded daily. Enable midstream generated a revenue of $2.9 billion in 2019 and its current stock price is only $6.67.
2. Cenovus Energy Inc. (NYSE: CVE)
Stock Price: $7.85 via Yahoo Finance
Cenovus Energy Inc. is a oil and natural gas company that is based in Canada. The company operates in oil sands projects in Northern Alberta and oil production in Alberta and British Columbia. It owns two leading oil producing projects in Christina Lake and Foster Creek. In the US, the company holds interests in two American refineries, Wood River and Borger located in Illinois and Texas, respectively. The company has a market cap of $16.032 billion as of 2020. Since the beginning of the year, Cenovus Energy delivered a 21% return, impressively extending its 12-month gains to 152%. As of April 20, 2021, the stock closed at $7.85 per share. By the end of the fourth quarter of 2020, Cenovus Energy Inc. was in 23 hedge fund portfolios, compared to 18 funds in the third quarter. The revenue per share of the company is 10.76. The current quarter estimates for the company have moved from a loss of 3 cents per share to a profit of 15 cents per share, while current year estimates have moved from a loss of 5 cents per share to a profit of 63 cents per share.
1. Range Resources Corporation (NYSE: RRC)
Stock Price: $9.29 via Yahoo Finance
Range Resources Corporation is a promising cheap oil stock under $10. The company is involved in petroleum and natural gas exploration and production which is organized in Delaware and is headquartered in Fort Worth, Texas. It is one of the biggest companies that is operating in the Marcellus Formation. As of 2020, Range Resources has 17.2 trillion cubic feet of natural gas equivalent proved reserves. With a market cap of $2.391 billion, the company also has operations in drilling and production in the Texas Panhandle and in Oklahoma and Kansas. According to Zacks Investment Research, 6 out 8 analysts have revised their estimates for the company upwards.
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