Image Source: Zacks Investment Research Vaalco Energy ( EGY - Free Report ) ) Rounding out the list is Vaalco Energy, a Texas based independent energy company principally engaged in the acquisition, exploration, development, and production of crude oil and natural gas. Vaalco Energy stock trades at $4 per share and just 1.9X forward earnings which is nicely beneath the industry average of 4.8X. Furthermore, Vaalco trades 97% below its decade high of 62X and at a 45% discount to the median of 3.5X. Even better, Vaalco's fiscal 2023 earnings estimates have climbed 19% over the last 30 days to what would be a very impressive $2.19 per share. Image Source: Zacks Investment Research Takeaway The rising earnings estimate revisions reaffirm that these affordable stocks appear to be trading at discounts when considering their attractive P/E valuations. At their current levels, much of the risk looks priced in already and there could be plenty of upside ahead.