5 Undervalued Stocks to Buy According to Billionaire Leon Cooperman

2. Devon Energy Corporation (NYSE:DVN)

Omega Advisors’ Stake Value: $119,881,000

Percentage of Omega Advisors’ 13F Portfolio: 6.02%

PE Ratio as of May 25: 8.20

Number of Hedge Fund Holders: 66

As of the end of Q1, 2022, Omega Advisors owns more than 2.72 million shares of Devon Energy Corporation (NYSE:DVN) which amount to a stake of $119.88 million. The investment covers 6.02% of Leon Cooperman’s 13F portfolio.

On May 9, Raymond James analyst John Freeman raised his price target on Devon Energy Corporation (NYSE:DVN) to $90 from $85 and reiterated a Strong Buy rating on the shares.

At the close of the first quarter of 2022, 66 hedge funds were long Devon Energy Corporation (NYSE:DVN) with stakes worth $1.92 billion. This is compared to 51 hedge funds in the previous quarter with stakes of $1.74 billion. The hedge fund sentiment for the stock is positive.