5 Best Crude Oil Stocks to Buy Today

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In this article, we will discuss the 5 best crude oil stocks to buy today. If you want to read our detailed analysis of these stocks, you can go directly to the 10 Best Crude Oil Stocks to Buy Today.

5. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 50

Price as of November 4, 2021: $42.36

Devon Energy Corporation (NYSE:DVN) is an oil and gas exploration and production company with a high focus on US onshore drilling.

The Oklahoma-based company reported stellar Q3 2021 results by outperforming revenue and EPS estimates. On November 4, the company’s management also announced that it would buy back $1 billion worth of stock, increase dividends by 71% to 84 cents and reduce its debt by $1 billion, which is equivalent to 4% of Devon’s market value.

On November 3, William Janella at Credit Suisse increased the price target on Devon Energy Corporation (NYSE:DVN) from $43 to $50 while maintaining an Outperform rating. The analyst sees the corporation “continuing to over-deliver on its cash-return framework.”

According to Insider Monkey’s database, Fisher Asset Management is the leading investor in Devon Energy Corporation (NYSE:DVN) with a stake worth over $127 million. Overall, 50 hedge funds have a stake in Devon Energy Corporation (NYSE:DVN), with a cumulative market value of just over $1 billion as of the second quarter of 2021.

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