5 Best Undervalued Energy Stocks to Buy According to Analysts

In this article, we will discuss the 5 best undervalued energy stocks to buy according to analysts. If you want to explore similar stocks, you can go to 11 Best Undervalued Energy Stocks to Buy According to Analysts.

5. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 55

Average Analyst Price Target as of April 5: $67.71

Average Upside Potential as of April 5: 26.49%

PE Ratio (TTM) as of April 5: 5.87

On March 10, Mizuho analyst Nitin Kumar revised his price target on Devon Energy Corporation (NYSE:DVN) to $71 from $82 and maintained a Buy rating on the shares. As of April 5, Devon Energy Corporation (NYSE:DVN) is trading at a PE multiple of 5x and is one of the best undervalued energy stocks to buy now according to analysts.

Over the past 3 months, Devon Energy Corporation (NYSE:DVN) has received 9 Buy ratings and 8 Hold ratings from Wall Street analysts and has a consensus Buy rating. The stock has an average price target of $67.71, which implies an upside of 26.49% from current levels.

At the close of the fourth quarter of 2022, 55 hedge funds were long Devon Energy Corporation (NYSE:DVN) and disclosed stakes worth $823.5 million in the company. Of those, Yacktman Asset Management was the top stockholder and held a stake worth $172.5 million.