The companies behind the American shale boom are now struggling to generate substantial returns for their shareholders. Leading the list was the state-owned company, Saudi Aramco, which called itself the most profitable oil company globally, generating a revenue of $111 billion during the 2019 fiscal year. Overall, US oil companies like Chevron Corporation (NYSE: CVX), ConocoPhillips (NYSE: COP), and EOG Resources, Inc.. have risen to great heights. However, the coronavirus crisis plunged the oil industry into a brutal crash. Oil prices have underperformed in S&P index by 10-25% between July to November 2020, according to Deloitte’s 2021 oil and gas industry outlook. S&P Global Ratings also warned that it might cut the credit score on several major oil producers, including TOTAL SE, Royal Dutch Shell plc and Exxon Mobil Corporation. There is no doubt that oil is a rough trade right now. The main features to look for in oil stocks include a manageable debt load, a stable dividend, and sufficient cash reserves.
Insider Monkey presents a list of 10 cheap oil stocks under $10: PHX Minerals Inc. is a natural gas and oil mineral company with a strategy to proactively grow its mineral position in its core areas of focus. W&T Offshore, Inc. has interests in approximately 837,500 gross acres, including about 605,000 gross acres on the Gulf of Mexico Shelf and approximately 232,500 gross acres in the deep water. With a stock price of $3.005 as of April 20, 2021, the company has earned a spot on this list. Crescent Point Energy Corp. is another Canadian-based oil and gas company to make the list of 10 cheap oil stocks under $10. The primary focus of the company is light oil production in Southern Saskatchewan. Southwestern Energy is an oil and natural gas exploration and production company headquartered in Spring, Texas. An intriguing oil stock for investors right now is Comstock Resources, Inc. The current quarter estimates have risen from 13 cents per share to 16 cents per share, while current year estimates have risen from 64 cents per share to 67 cents per share. According to market beat, the consensus among Wall Street equities research analysts is that investors should buy Comstock Resources stock. More details on what to buy as you read 10 Cheap Oil Stocks Under $10.
