5 Cheap Oil Stocks Under $10

3. Kosmos Energy Ltd. (NYSE:KOS)

Number of Hedge Fund Holders: 25

Kosmos Energy Ltd. (NYSE:KOS) is an oil and gas exploration company that produces oil from the Gulf of Mexico, Senegal, Ghana, and Equatorial Guinea. The firm is headquartered in Dallas, Texas, the United States.

Kosmos Energy Ltd. (NYSE:KOS) is investing heavily in production, and it expects its Tortue, Jubilee Southeast, and Winterfell assets to add as much as 50% to its production capacity by 2024. Kosmos Energy Ltd. (NYSE:KOS)’s field in Ghana produced 74,000 barrels of oil daily in its second quarter, and its Jubilee Southeast field delivered another 90,000 barrels.

Kosmos Energy Ltd. (NYSE:KOS) also strengthened its balance sheet in the second quarter by reducing $400 million in net debt. Berenberg increased its share price target to $8.5 from $8.3 in August 2022, stating that the firm has a bright future. As this year’s second quarter ended, 25 out of the 895 hedge funds polled by Insider Monkey had invested in the company.

Kosmos Energy Ltd. (NYSE:KOS)’s largest investor is D.E. Shaw’s D E Shaw which owns 10.5 million shares that are worth $65 million.