9 Cheap Oil Stocks Under $10 to Buy Now

2. Crescent Energy Company (NYSE:CRGY)

Forward P/E: 5.92

Stock Price: $9.70

Number of Hedge Fund Holders: 38

Crescent Energy Company (NYSE:CRGY) is one of the cheap oil stocks under $10 to buy now. On November 28, Siebert Williams Shank & Co. stuck with a Buy rating on Crescent Energy Company (NYSE:CRGY), as well as the $14 price target on the stock.

Independent of the analyst action, Crescent issued its Q3 2025 results on November 3, revealing that revenues hit $866.6 million. This figure is 16% higher than in Q3 2024 but lower than the $876.5 million forecast. Management said the miss is largely due to timing shifts in realizations and lower-than-expected contributions from non-core assets. Similarly, the quarter’s EPS fell short of analyst expectations by 111.76%; management tied this massive miss to non-cash charges from asset impairments and acquisition expenses.

In terms of production, the average net production during the quarter averaged 253 thousand barrels of oil equivalent per day (Mboe/d), with 41% oil and 58% liquids. This performance aligns with plans despite a 4 Mboe/d hit from recent divestitures. Management also updated that they drilled 16 gross operated wells and brought online 31 in the Eagle Ford.

Despite the setbacks, management raised full-year 2025 capital expenditures to $910–$970 million, a 4% improvement from initial targets. They cited efficiencies and divestiture proceeds.

Crescent Energy Company (NYSE:CRGY) is an oil and natural gas company. It develops and operates large-scale production assets across the United States. Crescent’s main products are crude oil and natural gas.