12 Best LNG Stocks to Buy in 2026

8. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 50

Devon Energy Corporation (NYSE:DVN) is a leading US oil and gas producer with a premier multi-basin portfolio touching the Anadarko Basin, Eagle Ford, Marcellus Shale, Powder River Basin, Williston Basin, and anchored by a world-class acreage position in the Delaware Basin.

On May 22, Morgan Stanley bumped up its price target on Devon Energy Corporation (NYSE:DVN) from $59 to $66, while keeping an ‘Overweight’ rating on the shares. The revised target represents an upside potential of almost 40% from the current share price.

The move comes despite Devon Energy Corporation (NYSE:DVN) falling behind estimates in its recent Q1 report on May 5. However, its oil production of 387,000 bpd was at the top end of its guidance, and the company managed to achieve this with a capital expenditure of 6% below guidance, providing a boost to its cash flows. Devon also revealed that it remains on track to achieve its target to deliver $1 billion of annual pre-tax free cash flow improvement.

Devon Energy Corporation (NYSE:DVN) continues its focus on expansion and emerged as the biggest buyer in the sale of oil and ​gas drilling rights on federal lands in New Mexico and ‌ Texas held by the Trump administration on May 20. A Reuters report indicated that the company accounted for $2.5 billion out of the record $4 billion sale.