5 Cheap Oil Stocks Under $10

In this piece, we will take a look at the five cheap oil stocks under $10. If you want to take a look at more stocks, then head on over to 10 Cheap Oil Stocks Under $10.

5. Helix Energy Solutions Group, Inc. (NYSE:HLX)

Number of Hedge Fund Holders: 15

Helix Energy Solutions Group, Inc. (NYSE:HLX) is an energy company that provides well management, production, and robotics services to the energy industry. These include site inspection, flowline installation, and maintenance of production structures.

Helix Energy Solutions Group, Inc. (NYSE:HLX) is forecast to generate $40 million in operating income this year and grow this to $50 million next year. The firm grew its well intervention rate by 30% to sit at 45% in its second quarter, and its Siem Helix 2 project in Brazil saw a whopping utilization rate of 99% during the same time period. The robotics segment grew operating income by 553% sequentially in Q2, with average utilization of 94%.

Piper Sandler set an Overweight rating for the shares and a $7 price target for Helix Energy Solutions Group, Inc. (NYSE:HLX) in October 2022, stating that strong free cash flows next year will boost the overall industry. Insider Monkey took a look at 895 hedge funds during this year’s June quarter to determine that 15 had owned a stake in the company.

Helix Energy Solutions Group, Inc. (NYSE:HLX)’s largest investor is William B. Gray’s Orbis Investment Management which owns 2.4 million shares that are worth $7.4 million.