5 Very Cheap Energy Stocks Ready To Explode

In this piece, we will take a look at five very cheap energy stocks ready to explode. If you want to learn all about the recent trends in the energy industry as well as the methodology used to rank these companies, then read 10 Very Cheap Energy Stocks Ready To Explode.

5. Matador Resources Company (NYSE:MTDR)

Average Analyst Share Price Upside: 41.29%

Matador Resources Company (NYSE:MTDR) is a small Texas based company that holds interests in oil properties and also provides midstream petroleum products services. It has been doing well on the financial front as of late, by having beaten analyst EPS estimates in all four of its latest quarters.

By Q3 2023 end, 24 out of the 910 hedge funds surveyed by Insider Monkey were Matador Resources Company (NYSE:MTDR)’s shareholders. Sameer Sethna’s Aventail Capital Group was the firm’s biggest investor due to its $57.7 million investment.

4. Weatherford International plc (NASDAQ:WFRD)

Average Analyst Share Price Upside: 41.49%

Weatherford International plc (NASDAQ:WFRD) provides drilling, well completion, well management, and other associated products to oil producing companies. The firm scored a win in November 2023 when S&P upgraded its credit rating to B+ from B on the back of strong debt repayments.

Insider Monkey scoured through 910 hedge funds for their September quarter of 2023 shareholdings to find that 34 were the firm’s investors. Weatherford International plc (NASDAQ:WFRD)’s largest hedge fund shareholder is Donald Yacktman’s Yacktman Asset Management as it owns $201 million worth of shares.

3. Valaris Limited (NYSE:VAL)

Average Analyst Share Price Upside: 55.63%

Valaris Limited (NYSE:VAL) is a Bermuda based offshore oil drilling products and services provider that owns and operates several different kinds of rigs. Business was booming during its third quarter as the firm won new contracts and had a backlog of $465 million.

As of September 2023, 48 out of the 910 hedge funds profiled by Insider Monkey had bought and owned Valaris Limited (NYSE:VAL)’s shares. Among these, William B. Gray’s Orbis Investment Management was the biggest investor through its $378 million stake.

2. Nabors Industries Ltd. (NYSE:NBR)

Average Analyst Share Price Upside: 63.09%

Nabors Industries Ltd. (NYSE:NBR) is another Bermuda based drilling products and services company. However, it is a diversified drilling company whose products and operations cover both land and sea based oil drilling. The shares are rated Buy on average and analysts have set an average share price target of $128.60.

During 2023’s third quarter, 21 out of the 910 hedge funds tracked by Insider Monkey were the firm’s shareholders. Nabors Industries Ltd. (NYSE:NBR)’s largest stakeholder is Jeffrey Gendell’s Tontine Asset Management as it owns $47.3 million worth of shares.

1. Precision Drilling Corporation (NYSE:PDS)

Average Analyst Share Price Upside: 90.94%

Precision Drilling Corporation (NYSE:PDS) is a Canadian energy company that operates hundreds of drilling rigs all over the world. The firm has beaten analyst EPS estimates in two out of its four latest quarters, the shares are rated Buy on average, and the average share price target is $98.37 for a juicy 90.94% upside.

By the end of this year’s September quarter, 17 hedge funds out of the 910 part of Insider Monkey’s database had invested in Precision Drilling Corporation (NYSE:PDS). Out of these, the biggest investor is Todd J. Kantor’s Encompass Capital Advisors due to its $38.4 million stake.

Disclosure: None. You can also take a look at 10 Best Ray Dalio Stocks Other Billionaires Are Also Piling Into and 10 Best Bill Gates Stocks Other Billionaires Are Also Piling Into.