10 Best Stocks Under $50 to Buy Right Now

8. Devon Energy Corporation (NYSE:DVN)

Share Price as of February 20: $37.57

Number of Hedge Fund Holders: 55

Devon Energy Corporation (NYSE:DVN), founded in 1971 and based in Oklahoma City, Oklahoma, is a major name in the United States energy industry, focusing on the exploration, development, and production of oil, natural gas, and natural gas liquids.

On February 19, Mizuho Securities boosted Devon Energy Corporation’s (NYSE:DVN) price objective from $47 to $49 while maintaining an Outperform rating. The adjustment comes after the company released its 2025 capital plan, which calls for about 5% less spending and around 2% greater output volumes than originally planned.

Devon Energy Corporation (NYSE:DVN) outperformed expectations in the fourth quarter of 2024, with EBITDA and free cash flow above averages by around 9% and 3%, respectively. According to the company’s management, the Grayson Mills integration is delivering results that surpass the $50 million target.