In this article, we will take a look at the 5 Most Undervalued Natural Gas Stocks to Buy Now. For deeper discussion and analysis, have a look at the 12 Most Undervalued Natural Gas Stocks to Buy Now.
5. Devon Energy Corporation (NYSE:DVN)
Forward P/E Ratio as of April 15: 11.01
Devon Energy Corporation (NYSE:DVN) is a leading independent energy company engaged in finding and producing oil and natural gas, with operations focused onshore in the United States.
On April 14, UBS slightly reduced its price target on Devon Energy Corporation (NYSE:DVN) from $61 to $60, but maintained its ‘Buy’ rating on the shares. The trimmed target still represents an upside of over 32% from the current price levels.
That said, earlier on April 7, BMO Capital instead raised its price target on Devon Energy Corporation (NYSE:DVN) by $5 and kept an ‘Overweight’ rating on the shares (read more details here).
It was announced earlier in February that Devon Energy Corporation (NYSE:DVN) would merge with Coterra Energy to become a large-cap producer with a top position in the Permian Basin. The transaction is expected to close in the second quarter of 2026, with the companies aiming to deliver $1 billion in annual pretax run rate synergies by the end of 2027. The combined entity also plans to lift shareholder returns through higher dividends and a share buyback program of more than $5 billion.
4. Range Resources Corporation (NYSE:RRC)
Forward P/E Ratio as of April 15: 10.63
Range Resources Corporation (NYSE:RRC) is a pioneer of the Marcellus Shale and one of the most active natural gas drillers in Pennsylvania.
Range Resources Corporation (NYSE:RRC) had a setback on April 14 when Citi trimmed its price target on the stock from $50 to $45, while maintaining a ‘Neutral’ rating on the shares. The lowered target still indicates an upside of over 9% from the current levels.
On the other hand, the analysts over at Jefferies turned more bullish on Range Resources Corporation (NYSE:RRC) earlier on April 5, raising the firm’s price target on the stock (read more details here).
Range Resources Corporation (NYSE:RRC) is targeting production of 2.35 to 2.4 Bcfe per day for FY 2026, with a projected capital spending of $650 million to $700 million. The company expects its first-quarter production to be down versus Q4 of last year, with output then stepping up significantly in the second half of 2026 and continuing into 2027.
3. Expand Energy Corporation (NASDAQ:EXE)
Forward P/E Ratio as of April 15: 9.92
Formed in 2024 by the merger of Chesapeake Energy Corporation and Southwestern Energy Company, Expand Energy Corporation (NASDAQ:EXE) operates as an independent natural gas production company in the United States.
On April 13, UBS lowered its price target on Expand Energy Corporation (NASDAQ:EXE) from $139 to $133, but maintained its ‘Buy’ rating on the shares. The reduced target, which still indicates an upside of over 38% from the current price levels, comes as the analyst firm updated the company’s model as part of a Q1 preview. According to UBS, EXE’s stock weakness has driven a faster buyback.
Similarly, earlier on April 7, BMO Capital analyst Phillip Jungwirth also trimmed the firm’s price target on Expand Energy Corporation (NASDAQ:EXE) from $125 to $120, while keeping an ‘Outperform’ rating on the shares.
With an upside potential of over 38% as of the writing of this piece, Expand Energy Corporation (NASDAQ:EXE) is included among the 15 Best American Energy Stocks to Buy According to Wall Street Analysts.
2. Shell plc (NYSE:SHEL)
Forward P/E Ratio as of April 15: 9.86
Shell plc (NYSE:SHEL) is an integrated energy company with operations spanning exploration, production, refining, marketing, and chemical manufacturing, alongside growing investments in biofuels and hydrogen.
A Reuters report on April 9 revealed that Shell plc (NYSE:SHEL) is planning to begin natural gas production from the Loran-Manatee offshore field, which crosses the border of Venezuela and Trinidad and Tobago, by mid-2027. The move comes as the energy giant looks to accelerate its projects in Venezuela, especially to Trinidad, which needs a fresh gas supply for its LNG and petrochemical projects.
According to estimates, Loran holds 7.3 Tcf of gas reserves, compared to Manatee’s reserves of 2.7 Tcf. While Shell expects to begin production at Manatee next year, it has not taken any final investment decision on Loran yet.
Moreover, given the high demand, Shell plc (NYSE:SHEL) has decided to increase the capacity of the pipeline that will transport the gas to Trinidad to 1 billion cubic feet per day, up from the originally planned 700 million cubic feet per day.
1. Suncor Energy Inc. (NYSE:SU)
Forward P/E Ratio as of April 15: 8.90
Topping our list of the Most Undervalued Natural Gas Stocks to Buy is Suncor Energy Inc. (NYSE:SU). It is a Canadian integrated energy company that extracts, produces, and provides energy from a mix of sources, ranging from oil sands to renewable fuels. The firm supplies and trades crude oil, natural gas, sulphur, and petroleum coke to mid-to large-sized businesses.
On April 14, JPMorgan raised its price target on Suncor Energy Inc. (NYSE:SU) from C$79 to C$105, while keeping an ‘Overweight’ rating on the shares. The bumped target, which reflects an upside potential of more than 21% from the current share price, comes as part of the analyst firm’s Q1 preview.
JPMorgan cited the soaring commodity prices amid the Middle East conflict as the primary reason behind the boost. The analyst expects a strong performance by Suncor Energy Inc. (NYSE:SU), both upstream and downstream, in its upcoming Q1 2026 report.
Suncor Energy Inc. (NYSE:SU) is targeting to repurchase C$3.3 billion of its shares in 2026, with expectations to return 100% of excess funds to shareholders. With an annual dividend yield of 2.79%, Suncor Energy Inc. (NYSE:SU) was recently included in our list of the 14 Best Oil and Gas Dividend Stocks to Buy Right Now.
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READ NEXT: 14 Best Energy Infrastructure Stocks to Buy Now and 15 Best Blue Chip Stocks to Buy Now.
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