5 Most Undervalued Oil Stocks To Buy According To Hedge Funds

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In this article, we discuss the 5 most undervalued oil stocks to buy according to hedge funds. To go through our detailed analysis of the oil and gas sector, go directly to the 10 Most Undervalued Oil Stocks To Buy According To Hedge Funds.

5. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 52

P/E Ratio as of December 5: 7.62

Devon Energy Corporation (NYSE:DVN) primarily engages in hydrocarbon exploration in the United States, registered in Delaware, and headquartered at the Devon Energy Center, a 50-story skyscraper in Oklahoma City, Oklahoma. In the second quarter, the company generated over $1.4 billion in operating cash flow and allocated $690 million to shareholders through dividends and stock buybacks.

On November 27, Stifel decreased the price target on Devon Energy Corporation (NYSE:DVN)’s stock to $77 from $79 and maintained a Buy rating on the shares.

Among the 910 hedge funds monitored by Insider Monkey, 52 of them held stakes in Devon Energy Corporation (NYSE: DVN). The largest stake in Devon Energy Corporation (NYSE:DVN) was held by Donald Yacktman’s Yacktman Asset Management, which possesses a $145.2 million stake in the company.

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