5 Best Cheap Oil Stocks to Buy in 2021

2. Range Resources Corporation (NYSE:RRC)

Number of Hedge Fund Holders: 25
Total Value of Hedge Fund Holdings: $194 Million
Share Price as of April 28: $9.74

Range Resources Corporation (NYSE:RRC) ranks 2nd in our list of 10 best cheap oil stocks to buy in 2021. The energy company is a Marcellus Shale explorer and Pennsylvania’s most prolific natural gas drillers. In 2020, the company sold its Northern Louisiana assets to Terryville upstream for $245 million, plus contingent payments based on commodity prices. According to the terms of the contract, Range will keep midstream obligations for the duration of the contract.

Range Resources Corporation (NYSE:RRC) has a market cap of $1.96 billion and in the fourth quarter of 2020, the company’s revenue came in at $598.9 million. Shares of RRC climbed 60% over the past twelve months. On April 23, Raymond James Downgrades Range Resources to Underperform.

There were 25 hedge funds that reported owning stakes in Range Resources Corporation at the end of the fourth quarter, down from 23 funds a quarter earlier. The total value of these stakes at the end of Q4 is $194 million.

Range Resources Corp. (NYSE:RRC)