10 Best Energy Stocks to Buy Under $20 According to Billionaires

8. Crescent Energy Company (NYSE:CRGY)

Share Price as of May 6: $13.42

Number of Billionaire Holders: 8

Next on our list of the Best Energy Stocks Under $20 is Crescent Energy Company (NYSE:CRGY). The company engages in the exploration and production of crude oil, natural gas, and natural gas liquids in the United States.

Crescent Energy Company (NYSE:CRGY) reported mixed results for its Q1 2026 on May 4, with the company’s loss per share of $1.28 significantly falling behind consensus by $1.63. However, its revenue grew by over 24% YoY to almost $1.2 billion and exceeded estimates by $20 million.

Notably, Crescent Energy Company (NYSE:CRGY) produced a record 341,000 barrels of oil equivalent per day (boepd) for the quarter, including 140 thousand barrels of oil per day. Moreover, it generated around $690 million of adjusted EBITDA and approximately $192 million of levered free cash flow. Crescent Energy also declared a quarterly dividend of $0.12 per share on May 5 and ended the quarter with approximately $2 billion of liquidity, no near-term debt maturities, and “a clear pathway to lower absolute leverage over time”.

At current prices, Crescent Energy Company (NYSE:CRGY) expects to generate around $200 million of EBITDA this year, representing a meaningful increase versus its original guidance. Moreover, the company is targeting to deliver approximately $1 billion of levered free cash flow in 2026.

Hotchkis & Wiley, an investment management company, stated the following regarding Crescent Energy Company (NYSE:CRGY) in its Q1 2026 investor letter:

“Crescent Energy Company (NYSE:CRGY) is an independent E&P operating in the Permian, Eagle Ford and Uinta Basins. Following their merger with Vital Energy, which expanded their geography into the Permian Basin, the Company will be the tenth largest US independent E&P. We own Crescent for its low valuation relative to free cash flow generation (over $700 million annually), improved scale and public float. Crescent outperformed in the first quarter as oil prices surged following the Strait of Hormuz closure, with Brent crude peaking near $127. The company’s Eagle Ford assets benefited from the geopolitical risk premium, while its natural gas hedge book protects cash flows.”