5 LNG Stocks to Watch Amid Ukraine Crisis

In this article, we discuss 5 LNG stocks to watch amid the Ukraine crisis. If you want to read our detailed analysis of these stocks, go directly to 10 LNG Stocks to Watch Amid Ukraine Crisis.

5. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 51      

Devon Energy Corporation (NYSE:DVN) operates as an independent energy company. Elite hedge funds are bullish on the stock. 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 14.5 million shares worth more than $638 million. 

On February 22, Raymond James analyst John Freeman kept a Buy rating on Devon Energy Corporation (NYSE:DVN) stock and raised the price target to $70 from $65, identifying “shareholder-friendly dividend payout structure, strong balance sheet and deep drilling inventory position” as some growth catalysts for the company. The stock has also benefited from rising energy prices due to the Russian invasion of Ukraine.

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.”