5 Best Energy Stocks to Invest In Today

In this article, we discuss the 5 best energy stocks to invest in today. If you want to read our detailed analysis of the energy stocks and the industry’s future outlook, go directly to 15 Best Energy Stocks to Invest In Today. 

5. Devon Energy Corporation (NYSE: DVN)

Number of Hedge Fund Holders: 50

Devon Energy Corporation (NYSE: DVN) is an American energy company engaged in oil and natural gas exploration and production. The company’s operations are focused onshore in the U.S. Devon Energy Corporation (NYSE: DVN) provides environmentally responsible production and a platform for future growth. The company ranks fifth on our list of the best energy stocks to invest in today.

In July, Piper Sandler and Mizuho lifted their price targets on Devon Energy Corporation (NYSE: DVN) to $37 and $38, respectively. Mizuho’s analyst Vincent Lovaglio expects an 8% growth in oil prices that would reflect a positive and long-term gas and energy outlook. In Q2 2021, Devon Energy Corporation (NYSE: DVN) posted an EPS of $0.60, beating the market estimates by $0.07. The consolidated revenue of $2.41 billion grew massively by 511.7% from the prior-year quarter. Devon Energy Corporation (NYSE: DVN) soared 201% in the past year and 79.7% year-to-date.

As of Q2 2021, 50 hedge funds tracked by Insider Monkey have positions in Devon Energy Corporation (NYSE: DVN), worth $1.03 billion.

GoodHaven Capital Management published its Q4 2020 investor letter and mentioned Devon Energy Corporation (NYSE: DVN) in it. Here is what the firm has to say:

“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.”