In this article, we will explore the 9 Cheap Oil Stocks Under $10 to Buy Now.
The International Energy Agency, in its Oil Market Report for November 2025, concludes that oil markets are entering a turbulent phase. According to the report, global supply of oil has shot up by more than 6 million barrels per day since January. And yet demand growth is modest at under 800,000 barrels per day annually. This imbalance, the report states, has already pushed crude prices down to multi‑year lows. For instance, the North Sea Dated crude was trading near $62 per barrel, its weakest level in four years, at the time the report was published (November 13).
Interestingly, Goldman Sachs came to a similar conclusion less than a week later on November 17. According to the bank, the current oil supply surges will weigh on prices through 2026, but, and this is key, they expect a rebound later. They see long-term Brent/WTI trading up toward around $80/76 by late 2028.
But in the meantime, any downturn will create acquisition opportunities, says David Carter, industrials senior analyst at RSM. Carter wrote in a November 26, 2025, article that lower oil prices will catalyze a resumption in consolidation and “streamlining may accelerate if small-to-midsize producers or services companies face cash flow pressures, creating acquisition opportunities for companies with strong balance sheets.” He added that “companies that prepare to capitalize on distress or use it as a catalyst may emerge from a downturn in an even better position than they’re in today.”
Away from the M&A opportunities, Morningstar is of the opinion that regardless of the current dynamics in the energy market, equities in this sector have immense growth potential. Morningstar’s David Sekera wrote in the firm’s December 2025 Stock Market Outlook report that energy is tied as the second most undervalued sector at a 9% discount to fair value.
In other words, for investors willing to pick good-quality oil-related firms while sentiment is down, the coming months may offer an attractive buying window. This article drills into 9 such firms (all trading under $10) that may be poised to benefit from the eventual oil-price upcycle.
Our Methodology
To compile the list of the 9 Cheap Oil Stocks Under $10 to Buy Now, we used stock screeners and financial media sources such as CNBC, Bloomberg, and CNN to identify an initial pool of oil-related companies. We then narrowed the list to stocks trading below $10 with forward P/E ratios under 15. To further refine the selections, we reviewed institutional holdings using Q3 2025 13F filing data from Insider Monkey’s database. The final list is presented in ascending order based on the number of hedge funds that have stakes in them.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
Note: The stock price and forward P/E data are as of December 4, 2025.
Cheap Oil Stocks Under $10 to Buy Now
9. Kolibri Global Energy Inc. (NASDAQ:KGEI)
Forward P/E: 8.24
Stock Price: $4.09
Number of Hedge Fund Holders: 1
Kolibri Global Energy Inc. (NASDAQ:KGEI) is one of the cheap oil stocks under $10 to buy now. On November 25, Kolibri Global Energy Inc. (NASDAQ:KGEI) revealed that shareholders approved a resolution to cap the number of authorized common shares at 37,367,894. The approval followed a special meeting that was convened in response to a September 2025 requisition by TFG Asset Management UK LLP, a major shareholder.
In a different update, the company disclosed its Q3 2025 financial results on November 12, reporting $15 million in net revenues (net of royalties). The revenue is a 15% growth from Q3 2024 level, which management stated was due to a 40% production surge from new wells drilled and completed in the first nine months of 2025. This surge was, however, partially offset by an 18% drop in realized prices. The revenue figure missed forecasts of $15.62 million.
The quarter’s EPS came in at $0.10, down from $0.14 in the prior-year quarter and below the $0.12 consensus estimate. The reason for the miss was a $0.5 million unrealized loss on commodity contracts, as noted by management.
Kolibri Global Energy Inc. (NASDAQ:KGEI) is an independent oil and natural gas company. It develops and operates production assets in the United States, and its primary facilities include horizontal drilling and completion projects. Kolibri’s main products are crude oil and natural gas, generated through targeted exploration and development programs.
8. OMS Energy Technologies Inc. (NASDAQ:OMSE)
Forward P/E: 4.36
Stock Price: $4.80
Number of Hedge Fund Holders: 5
OMS Energy Technologies Inc. (NASDAQ:OMSE) is one of the cheap oil stocks under $10 to buy now. On November 26, OMS Energy Technologies Inc. (NASDAQ:OMSE) revealed that its wholly-owned subsidiary, PT OMS Oilfield Services (OMS Indonesia), secured API Spec 11D1 certification from the American Petroleum Institute. The API Spec 11D1 standard outlines requirements for designing, building, testing, and quality-checking packers and bridge plugs used in petroleum and natural gas wells. If certified, it means that a company’s packers and bridge plugs have been proven to withstand extreme pressures and conditions.
According to the announcement, this approval allows OMS Indonesia to fully design, qualify, and produce its own retrievable mechanical and hydraulic packers. This adds to its existing lineup of API-6A-certified surface wellheads and Christmas trees. And these packers can integrate with OMS’s own systems or third-party gear, which the company said will open doors to new contracts in well completion and intervention services.
Management further stated that this certification bolsters OMS Indonesia’s role as a regional leader by enabling in-house development of high-spec components. This milestone, the company noted, supports faster delivery, cost efficiencies, and compliance in Southeast Asia’s growing oilfield market.
OMS Energy Technologies Inc. (NASDAQ:OMSE) is an oilfield equipment and services company. It manufactures and sells specialty connectors, pipes, surface wellheads, and Christmas trees for drilling and production operations.
7. HighPeak Energy, Inc. (NASDAQ:HPK)
Forward P/E: 10.60
Stock Price: $5.80
Number of Hedge Fund Holders: 8
HighPeak Energy, Inc. (NASDAQ:HPK) is one of the cheap oil stocks under $10 to buy now. HighPeak Energy, Inc. (NASDAQ:HPK) carries a consensus Hold rating, based on one Buy and one Sell recommendation from analysts in the past three months. The average 12‑month price target is $9.50, with forecasts ranging from $7.00 to $12.00, implying a potential 51% upside from the latest price of $6.28.
On November 6, Roth MKM reiterated its Buy rating on HighPeak Energy, Inc. and also held its price target for the stock at $12. The move came just hours after HighPeak reported its Q3 2025 earnings.
In the earnings report, total revenues touched $188.86 million, down from $271.58 million in Q3 2024 and missing the $226.48 million analyst estimates. According to management, the underperformance was due to a 30% drop in realized oil prices year-over-year to around $65 per barrel amid broader market weakness. The company’s EPS for the quarter was -$0.15 per diluted share, versus a $0.35 profit in the same quarter last year. The loss came on the back of a one-time $25.4 million non-cash loss on debt extinguishment from financial restructuring, noted management. Despite the weak numbers, the board declared a quarterly cash dividend of $0.04 per share, payable in December 2025.
Commenting on the results, interim CEO Michael Hollis stated: “We are not ignoring the realities of our situation. Instead, we are facing them head-on.” He added that the board and management remain “fully aligned and unwavering in our commitment to a long-term strategy of operating within cash flow, exercising disciplined decision-making, and maintaining measured, controlled execution.”
HighPeak Energy, Inc. (NASDAQ:HPK) is an independent oil and natural gas company. It develops and operates production assets in the Midland Basin, part of the prolific Permian Basin in West Texas. The company’s primary facilities include horizontal drilling and completion projects that leverage established infrastructure to support efficient crude oil and natural gas output.
6. VAALCO Energy, Inc. (NYSE:EGY)
Forward P/E: 12.17
Stock Price: $3.55
Number of Hedge Fund Holders: 13
VAALCO Energy, Inc. (NYSE:EGY) is one of the cheap oil stocks under $10 to buy now. VAALCO Energy, Inc. (NYSE:EGY) holds a consensus Moderate Buy rating, with a single analyst setting a $7.27 target, implying about 105% upside from its current $3.55 price.
On November 12, Jefferies reaffirmed its Buy rating on VAALCO Energy, Inc. and left the price target on the shares unchanged at £5.50 ($7.32). Independent of the analyst action, VAALCO reported its Q3 2025 financial results on November 10, in which the -$0.1 adjusted EPS missed analyst estimates by $0.08. Revenue also undershot expectations – the company reported $61.0 million against the expected $74.3 million. Management attributed this decrease to “lower realized pricing and lower sales volume” caused by a planned full-field maintenance shutdown in Gabon in July 2025.
Nonetheless, the company declared a quarterly cash dividend of $0.0625 per share, payable on December 24, 2025. Also, VAALCO successfully completed a redetermination of its credit facility, increasing lender commitments from $190 million to $240 million. CEO George Maxwell noted this “enhances our ability to fund the significant growth and opportunities that we have planned.”
Management increased the midpoints for full-year production and sales guidance. It also reduced its full-year capital guidance by an additional 19% (or $58 million) compared to original 2025 estimates, citing a focus on capital discipline.
VAALCO Energy, Inc. (NYSE:EGY) is a US-based oil and natural gas company. It acquires, explores, develops, and operates offshore hydrocarbon properties, primarily through its Etame Marin block in Gabon and additional interests in Equatorial Guinea and Canada. Its main products are crude oil and natural gas, extracted from offshore drilling and production operations.
5. GeoPark Limited (NYSE:GPRK)
Forward P/E: 2.13
Stock Price: $8.41
Number of Hedge Fund Holders: 13
GeoPark Limited (NYSE:GPRK) is one of the cheap oil stocks under $10 to buy now. GeoPark holds a consensus Moderate Buy rating, with one Buy and one Hold from Wall Street analysts over the past three months. The average 12‑month price target is $9.50, ranging from $8.50 to $10.50, implying about a 13% upside from the latest price of $8.41.
On December 1, GeoPark Limited (NYSE:GPRK) disclosed its board-approved 2026 Work Program and guidelines for 2027-2028. The program outlines a multi-year roadmap to safeguard cash from Colombian operations while ramping up unconventional development in Argentina’s Vaca Muerta formation. The overall strategy is two-pronged: on the one hand, the company will sustain high-margin Colombian output for stability and, on the other hand, it will accelerate Vaca Muerta drilling for expansion.
As a result, the company anticipates 2026 production to average between 44,000 and 46,000 barrels of oil equivalent per day (boepd), up from 2025’s midpoint of 35,000 boepd. This growth, the company said, will be driven by 72 gross wells (55 in Colombia, 17 in Argentina) and early Vaca Muerta contributions. And intensified unconventional activity should support 45,000–47,000 boepd by 2027 and 46,000–48,000 boepd by 2028.
Separately, on November 6, Jefferies reaffirmed its Buy rating on GeoPark. The firm also kept the price target unchanged at $10.50.
GeoPark Limited (NYSE:GPRK) is an oil and gas exploration and production company. It develops and operates onshore fields and production facilities across Latin America. The company’s primary assets include the Llanos 34 Block in Colombia and additional operated and non-operated blocks in Chile, Brazil, Ecuador, and Argentina.
4. Granite Ridge Resources, Inc. (NYSE:GRNT)
Forward P/E: 8.16
Stock Price: $5.42
Number of Hedge Fund Holders: 15
Granite Ridge Resources, Inc. (NYSE:GRNT) is one of the cheap oil stocks under $10 to buy now. With two Hold ratings and no Buys or Sells, Granite Ridge Resources, Inc. (NYSE:GRNT) carries a consensus Hold and an average target of $5.75, roughly 6% above the current $5.42.
On November 13, Freedom Capital Markets shifted its rating on Granite Ridge Resources, Inc. from Buy to Hold. The firm also cut its price target on the shares from $7.80 to $7.00, citing the debt burden that Granite Ridge has accumulated as a result of relentless production expansion via asset acquisition.
Even with the downgrade and target cut, Freedom Capital values Granite Ridge’s “controlling non-op” model that lets it guide drilling plans with top partners like ExxonMobil. This model, noted the analysts, blends control and low-risk funding for steady returns. They also highlighted the company’s conservative leverage at 50% pre-debt spike, strong profitability with 8.38% net margins over the last year, and inventory life over 10 years in high-return basins.
A week earlier, on November 6, the company had reported its Q3 2025 results, where revenues climbed to $112.7 million, up nearly 20% compared to Q3 2024. The jump, management said, was propelled by a 27% year-over-year surge in average daily production to 32,100 barrels of oil equivalent per day (boepd). This surge was mainly from Permian Basin contributions where oil accounted for 77% of output. As a result, the company declared a quarterly cash dividend of $0.11 per share, payable in December 2025.
Granite Ridge Resources, Inc. (NYSE:GRNT) is an independent oil and natural gas company. It develops and operates production assets across multiple US basins. The company’s main products are crude oil and natural gas, generated through strategic partnerships with leading operators across these basins.
3. Kosmos Energy Ltd. (NYSE:KOS)
Forward P/E: 2.45
Stock Price: $1.09
Number of Hedge Fund Holders: 20
Kosmos Energy Ltd. (NYSE:KOS) is one of the cheap oil stocks under $10 to buy now. On December 5, Bank of America Securities analyst Matthew Smith cut his rating on Kosmos Energy Ltd. (NYSE:KOS) to Sell and set a price target of $1.
He said the move reflected a weaker outlook for Brent crude, which he expects to average $60 a barrel by 2026, along with lower production forecasts and doubts about the company’s ability to maintain steady cash flow. Smith also noted ongoing operational uncertainties and a heavy debt load of $2.9 billion compared with only about $500 million in equity, stressing that the company still lacks a clear plan to bring its debt down and faces serious challenges ahead.
Earlier on November 12, Benchmark’s Subash Chandra kept a Hold rating on Kosmos Energy Ltd. Just six days ago, on November 6, Goldman Sachs’s Neil Mehta had reiterated a similar rating on the stock and set the price target on the shares at $1.75.
Separately, Kosmos released its Q3 2025 earnings report on November 3, in which revenues totaled $311.23 million. This meant that the company’s performance missed analyst estimates, who were expecting at least $345.25 million. Management explained that they could not match the projection because of a net underlift position, which is to say that the actual oil lifted was below entitlement levels. This happened despite higher production volumes, as management explained during the earnings call.
Kosmos Energy Ltd. (NYSE:KOS) is a deepwater exploration and production company headquartered in Dallas, Texas. It focuses on the acquisition, development, and production of crude oil and natural gas, with its primary assets located offshore in Ghana, Equatorial Guinea, Mauritania, Senegal, and the Gulf of Mexico.
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.
1. Sable Offshore Corp. (NYSE:SOC)
Forward P/E: 8.43
Stock Price: $5.22
Number of Hedge Fund Holders: 36
Sable Offshore Corp. (NYSE:SOC) is one of the cheap oil stocks under $10 to buy now. On December 1, Roth Capital stated that it expected Sable Offshore Corp. (NYSE:SOC) shares to have a positive reaction on the same day (December 1) due to Sable’s announcement about seeking federal oversight for its pipeline. And by close of trading on that day, the stock was up 14%; and as of December 4, the stock had gained an additional 6%. Roth Capital has a Buy rating on Sable and a price target of $22.
Speaking of the federal oversight, on November 26, Sable informed the US Department of Transportation’s Pipeline and Hazardous Materials Safety Administration (PHMSA) that its onshore pipeline qualifies as an interstate pipeline facility under the Interstate Pipeline Safety Act. Accordingly, the company requested PHMSA’s formal concurrence on this classification and detailed guidance for an orderly shift in regulatory authority from state to federal oversight. The company noted that it hopes the change will remove persistent state hurdles that have caused “unlawful delays.”
Sable Offshore Corp. (NYSE:SOC) is an independent oil and gas company. It develops and operates offshore platforms and subsea pipelines in federal waters off the coast of California. The company’s primary assets include the Santa Ynez Unit (SYU), which consists of three offshore platforms and a wholly owned onshore processing facility at Las Flores Canyon in Santa Barbara County.
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