5 Best Crude Oil Stocks To Buy Today

4. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 51

Devon Energy Corporation (NYSE:DVN) is also gaining traction amid rising commodity prices, with shares up 14% in the last month as of March 8. Devon Energy Corporation (NYSE:DVN) is one of the oil and gas companies with thousands of federal onshore drilling permits, giving it an advantage over its peers in the energy industry, which is one of the reasons the Oklahoma-based oil producer is gaining momentum.

Devon Energy Corporation (NYSE:DVN) also offers its shareholders a market-leading dividend yield of 6.68%. In 2021, the company reported $1.9 billion in dividend payments, an increase of 190% year over year. To top it all off, Devon Energy Corporation (NYSE:DVN) is looking like an appealing investment option as the oil producer increased its free cash flow of $260 million in Q1 2021 to $1.1 billion in Q4 2021.

In early March, Devon Energy Corporation (NYSE:DVN) received a Hold rating from Benchmark analyst Subash Chandra. Meanwhile, 51 out of 924 elite funds tracked by Insider Monkey held stakes worth $1.74 billion in Devon Energy Corporation (NYSE:DVN), up from 48 in Q3 2021.