5 Best Oil Stocks Under $20

In this piece, we will take a look at the five best oil stocks under $20. If you want to skip our analysis of the oil industry, recent trends, and the bottom five stocks in this list, then head on over to 10 Best Oil Stocks Under $20.

5. Cenovus Energy Inc. (NYSE:CVE)

Number of Hedge Fund Investors in Q1 2023: 36

Cenovus Energy Inc. (NYSE:CVE) is a Canadian oil and gas company with operations in its home country, the U.S., and in China. During the previous quarter, the firm had to face a tumultuous time as it dealt with restarting production in the aftermath of wildfires in Canada.

36 of the 943 hedge funds surveyed by Insider Monkey had held Cenovus Energy Inc. (NYSE:CVE)’s shares in Q1 2023. Out of these, the firm’s largest investor is Eric W. Mandelblatt’s Soroban Capital Partners through its 34 million shares that are worth $596 million.