10 Best Very Cheap Stocks To Buy Right Now

2. ConocoPhillips (NYSE:COP)

P/E Ratio: 10.85

Average Analysts Upside: 32.97%

ConocoPhillips (NYSE:COP) is one of the largest independent E&P companies based on oil and natural gas production and proved reserves. The company is engaged in the exploration, production, transportation, and marketing of crude oil, natural gas, natural gas liquids, and LNG worldwide.

ConocoPhillips (NYSE:COP) had a solid 2024 as its total production increased by 4% compared to 2023. The acquisition of Marathon in late November 2024 added high-quality, low-cost supply inventory to the company’s portfolio. The company maintained a strong cash position, collecting over $20 billion in operating cash flow for FY2024, while total cash from operations also surpassed $20 billion.

The company is committed to reducing its carbon footprint after achieving the Oil and Gas Methane Partnership 2.0 Gold Standard designation in 2024. It aims to reduce its greenhouse gas emissions intensity by 50 to 60% by 2030 and obtain a near-zero methane emissions intensity by the end of the decade. This goal will allow the company to explore new opportunities in the rising carbon-free energy sector.

Given the current commodity prices, ConocoPhillips returned more than $9 billion of capital to its shareholders in FY2024 and expects to return over $10 billion in 2025.