5 Best Energy Stocks To Buy For 2022

In this article, we discuss the oil price predictions for 2022 and top 5 energy stocks. If you want to read our detailed analysis of these stocks, go directly to the 10 Best Energy Stocks To Buy for 2022. 

5. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 48      

Devon Energy Corporation (NYSE:DVN) is an independent oil and gas firm. The company looks set to benefit from the political crisis in Ukraine that has driven the prices of oil higher in recent days after a quiet start to the new year. On January 25, seven out of eight top gainers on the growth-heavy S&P 500 were energy stocks. Russia, one of the top oil producers in the world, is a critical source of energy for Europe and Asia, and an escalation in Ukraine or talk of sanctions could send oil prices surging further in the coming weeks. 

The hedge fund sentiment around Devon Energy Corporation (NYSE:DVN) makes for bullish reading as well. Among the hedge funds being tracked by Insider Monkey, Florida-based investment firm GQG Partners is a leading shareholder in Devon Energy Corporation (NYSE:DVN) with 13.9 million shares worth more than $493 million. 

In its Q4 2020 investor letter, GoodHaven Capital Management, an asset management firm, highlighted a few stocks and Devon Energy Corporation (NYSE:DVN) was one of them. Here is what the fund said:

“After a rough start to the year our two biggest energy holdings – WPX Energy rebounded materially in the last six months though energy was still our biggest detractor for the year. I’ve previously written about deciding earlier this year to direct new capital towards better businesses versus adding more to the energy sector, but given the material optionality at WPX, we opted to maintain a material exposure. Recently WPX announced an all stock merger with a larger competitor – Devon Energy – which will leave the new company with plenty of cash flow at lower oil prices, less leverage, and material upside to higher commodity prices.”