5 Best Cheap Oil Stocks to Buy in 2021

4. Comstock Resources, Inc. (NYSE:CRK)

Number of Hedge Fund Holders: 22
Total Value of Hedge Fund Holdings: $87.1 Million
Share Price as of April 28: $5.23

Comstock Resources, Inc. ranks 4th on the list of 10 best cheap oil stocks to buy in 2021. The company owns around 309,000 net acres in the Haynesville and Bossier shale deposits that can yield natural gas. On March 15, Piper Sandler analyst Kashy Harrison downgraded Comstock Resources from Overweight to Neutral, with a $6.00 price target.

The company has a market cap of $1.11 billion and a revenue of $858 million in the full year of 2020. There were 22 hedge funds that reported owning stakes in Comstock Resources, Inc. at the end of the fourth quarter, down from 24 funds a quarter earlier. The total value of these stakes at the end of Q4 is $87.1 million.