5 Oil Stocks That Are Too Cheap To Ignore

In this piece, we will take a look at the five oil stocks that are too cheap to ignore. For more stocks, head on over to 10 Oil Stocks That Are Too Cheap To Ignore.

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

Share Price as of October 15, 2022: $17.50

Number of Hedge Fund Holders: 25

Comstock Resources, Inc. (NYSE:CRK) is an American oil and gas exploration firm that was set up in 1919 and is headquartered in Frisco, Texas. The firm has more than five trillion cubic feet of proven natural gas reserves and thousands of oil and gas wells.

Comstock Resources, Inc. (NYSE:CRK) is estimated to generate a massive $2 billion in cash flow by the end of next year’s second half based on current natural gas prices. Out of this, the firm can return close to a billion dollars to shareholders as it has no debt repayments until the end of 2024’s first quarter.

The rosy picture for Comstock Resources, Inc. (NYSE:CRK) doesn’t end here, as based on a $6.15 strip price for natural gas, the firm is further estimated to generate a whopping $1.6 billion in cash flow next year. Its shares have appreciated by a whopping 103% on the stock market year to date, and Insider Monkey’s Q2 2022 survey of 895 hedge funds revealed that 25 had owned its shares.

Out of these, D.E. Shaw’s D E Shaw is Comstock Resources, Inc. (NYSE:CRK)’s largest investor. It owns 41 million shares that are worth $49 million.