5 Energy Stocks to Buy Before Winter

In this article, we will be taking a look at 5 energy stocks to buy before winter. To read our detailed analysis of the energy sector and the prospective future demand for these stocks, you can go directly to see the 10 Energy Stocks to Buy Before Winter.

5. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 57

Devon Energy Corporation (NYSE:DVN) is an independent energy company. It is engaged in the exploration, development, and production of oil, natural gas, and natural gas liquids. The company is based in Oklahoma City. On August 23, Vincent Lovaglio at Mizuho raised his price target on Devon Energy Corporation (NYSE:DVN) shares from $88 to $91. The analyst also reiterated a ‘Buy’ rating on the stock.

Earlier this month, Devon Energy Corporation (NYSE:DVN) raised its 2022 production guidance by 3% in light of year-to-date production performance surpassing expectations. Devon Energy Corporation (NYSE:DVN) also announced a 22% dividend increase for its shareholders, bringing the company’s dividend up to $1.55 per share, compared to the previous value of $1.27. The company’s stock price return shows a 36% gain year-to-date and a 150% increase over the past year.

As of the close of the second quarter, 57 hedge funds were long Devon Energy Corporation (NYSE:DVN), with a total stake value of $1.5 billion.