12 Best Natural Gas Stocks to Buy According to Analysts

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7. Devon Energy Corporation (NYSE:DVN)

Upside Potential as of June 21: 22.06%

Devon Energy Corporation (NYSE:DVN) generated an impressive $1 billion in free cash flow in the first quarter of 2025, returning nearly half to shareholders through dividends and share buybacks. Moreover, the company boasts an impressive corporate breakeven of $45, positioning it well to generate value even in a low-price environment that we witnessed over the last couple of months.

Devon Energy Corporation (NYSE:DVN) announced earlier this year that it is on track to deliver recently announced plans to boost its annual free cash flow by $1 billion by the end of 2026 by reducing drilling and completion costs and improving operating margins. At the company’s current valuation multiples, capitalizing the after-tax impact of the targeted $1 billion of additional free cash flow could translate to an estimated $10 per share in value.

With a current Forward P/E ratio of 8.88, Devon Energy Corporation (NYSE:DVN) is included among the 10 Cheap Energy Stocks to Buy Now.

Devon Energy Corporation (NYSE:DVN) is a leading independent energy company engaged in finding and producing oil and natural gas, with operations focused onshore in the United States.

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