Top 10 Cheap Stocks With Strong Buy Ratings on Wall Street 

7. Devon Energy Corporation (NYSE:DVN)

Number of Hedge Fund Holders: 58

Devon Energy Corporation (NYSE:DVN) is one of the top cheap stocks with Strong Buy ratings on Wall Street. Truist lifted the price target on Devon Energy Corporation (NYSE:DVN) to $66 from $63 on June 1, maintaining a Buy rating on the shares. The firm cited the Reuters report that suggested that the company received an $8 billion offer for its Marcellus asset. It further told investors in a research note that expectations had increased for a divestiture to materialize rather quickly post-merger close, given a hot ABS market and a generally supportive asset market.

Devon Energy Corporation (NYSE:DVN) also received a rating update from Mizuho on May 27, with the firm adjusting the price target on the stock to $68 from $62 while maintaining an Outperform rating on the shares. The firm anticipates the effects of the Iran crisis on global oil prices and refining cracks to be prolonged. It raised its 2026 and 2027 oil price outlook by 25% and 6%, respectively, while also lifting its forecast for U.S. refining cracks by 61% and 51%.

Devon Energy Corporation (NYSE:DVN) is involved in the development, exploration, and production of oil and natural gas properties. The company develops and operates the Delaware Basin, Eagle Ford, Heavy Oil, Barnett Shale, STACK, and the Rockies Oil.