5 Oil & Gas Stocks to Buy Today According To Rajiv Jain’s GQG Partners

4. Devon Energy Corporation (NYSE:DVN)

GQG Partners’ Stake Value: $638 million

Percentage of GQG Partners’ 13F Portfolio: 1.58%

Number of Hedge Fund Holders: 52

Devon Energy Corporation (NYSE:DVN) is an oil and natural gas producer based in the United States. The company has thousands of wells and is headquartered in Oklahoma City, Oklahoma.

By the end of its fiscal fourth quarter, Devon Energy Corporation (NYSE:DVN)  beat analyst estimates for both revenue and non-GAAP EPS, by posting $4.27 billion and $1.39 in the segments, respectively. Piper Sandler raised the company’s price target to $67 from $62 in February 2022, stating that the segment is beating capital expenditure hurdles.

GQG Partners owned a $638 million stake in Devon Energy Corporation (NYSE:DVN) by the end of the fourth quarter of last year. This came through owning 14 million shares and it represented 1.58% of the investment firm’s portfolio. A Q4 2021 Insider Monkey poll of 924 hedge funds revealed that 52 had also owned a stake in the company.

Devon Energy Corporation (NYSE:DVN)’s largest investor after GQG Partners is Ken Fisher’s Fisher Asset Management which owns 3.9 million shares worth $175 million.