10 Best Low Cost Stocks to Buy According to Billionaires

2. Permian Resources Corporation (NYSE:PR)

No. of Billionaires: 12

Total Value of Billionaire Holdings: $0.27 Billion

Permian Resources Corporation (NYSE:PR) is an independent oil and gas company headquartered in Texas. The company specifically focuses on the Permian Basin, one of the most productive shale regions in the U.S. The company’s main business activities involve exploring, developing, and producing crude oil and natural gas. Its business strategy is centered on operational efficiency alongside disciplined capital allocation. The company relies on its low-cost asset base and firm productivity to compete against peers like Diamondback Energy.

Permian Resources Corporation (NYSE:PR) is supported by 12 billionaires with investments totaling $0.27 billion. In the last quarter, the company achieved a production volume of 171,000 barrels per day. The company anticipates an increase in production further in 2025, which would result in elevated revenue. The Delaware Basin drilling program will significantly contribute to this growth, in addition to the $1.2 billion worth of acquisitions completed in 2024, replacing drilled inventory with high-return assets.

Permian Resources Corporation (NYSE:PR) is part of 54 hedge fund portfolios, which signifies high institutional interest in the stock and the billionaire’s interest. With a Buy rating and a projected upside of 76.74%, it is one of the best cheap stocks to buy.