Jim Cramer Recommends These 5 Stocks for Recession

3. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 66      

Devon Energy Corporation (NYSE:DVN) is an independent oil and gas firm. The journalist investor has been bullish on the energy sector in general over the past few months. But as recession fears have grown, he has doubled down on this sector further. On June 14, he named Devon Energy Corporation (NYSE:DVN) among a group of ten stocks that had become cheap after a larger selloff at the market, and offered investors “healthy growth and dividend protection”. 

On June 14, Barclays analyst Jeanine Wai maintained an Equal Weight rating on Devon Energy Corporation (NYSE:DVN) stock and raised the price target to $90 from $73, noting that the oil sector had healthy upside and compelling yield despite secular headwinds. 

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 15 million shares worth more than $888 million.