10 Lowest PE Ratio Stocks in S&P 500

6. Devon Energy Corporation (NYSE:DVN)

P/E Ratio as of April 29: 6.92

Number of Hedge Fund Holders: 55

Devon Energy Corporation (NYSE:DVN) is an independent American energy company that explores and produces oil, natural gas, and natural gas liquids. DVN ranks 6th on our list of stocks with a low PE ratio. On April 7, Mizuho Securities reiterated an Outperform rating on Devon and lowered the price target from $49 to $46. Mizuho expects the company to meet Q1 2025 projections, despite a 3% dip in production from late 2024. According to analysts, the company is focusing on cost cuts amid market volatility and remains financially strong with $15.17 billion in revenue and a 52.83% profit margin.

In the fourth quarter of 2024, Devon Energy Corporation (NYSE:DVN) earned $639 million in net income, and the company generated $1.7 billion in operating cash flow, leaving $738 million in free cash flow. It returned $444 million to shareholders through dividends and share buybacks, and increased its quarterly dividend by 9% to $0.24 per share, which was paid on March 31. Revenues for Q4 rose 16% to $3.1 billion, driven by higher production and better prices for natural gas and NGLs, even though oil prices dipped slightly.

According to Insider Monkey’s fourth quarter database, 55 hedge funds were long Devon Energy Corporation (NYSE:DVN), compared to 41 funds in the last quarter. Ken Griffin’s Citadel Investment Group was the leading stakeholder of the company, with 11.2 million shares valued at $367.5 million.