12 Best Commodity Stocks to Buy Right Now

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7. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 58

With significant hedge fund interest, Devon Energy Corporation (NYSE:DVN) secures a spot on our list of the 12 best commodity stocks to buy right now.

On November 13, 2025, Goldman Sachs’ Neil Mehta reiterated a “Buy” rating on Devon Energy Corporation (NYSE:DVN) with a $42 price target.

Earlier, on November 12, 2025, Devon Energy Corporation (NYSE:DVN) saw RBC Capital reiterate its “Sector Perform” rating with a $42 price target. The investment firm cited the company’s ongoing business optimization efforts, which RBC Capital believes remain underappreciated by the market. Furthermore, the firm highlighted the company’s initial 2026 guidance, which projects reduced capital expenditures and slightly higher production levels.

Meanwhile, Devon Energy Corporation (NYSE:DVN) reported its Q3 2025 results on November 6. The quarter marked a generation of $1.7 billion in operating cash flow and $820 million in free cash flow. Furthermore, the company returned $401 million to shareholders through dividends and share repurchases. The quarter also saw a $485 million reduction in net debt, bringing total debt reduction to nearly $1 billion toward the company’s $2.5 billion target. Thus, net leverage reached a low level of 0.9x (net debt-to-EBITDA ratio). At the same time, the recorded production during the quarter exceeded guidance, with operating costs reducing by 5% from the start of the year.

Looking ahead, Devon Energy Corporation (NYSE:DVN) aims to invest $3.5-$3.7 billion in capital, which is expected to maintain stable production levels and boost free cash flow.

Devon Energy Corporation (NYSE:DVN), an independent oil and gas producer, focuses on exploration, production, and development across its onshore assets.

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