We just published a list of 10 Ridiculously Cheap Stores to Shop Now. In this section, we’ll take a look at where Devon Energy Corporation (NYSE:DVN) stands against other cheap stocks that are fun to buy right now.
The S&P 500 is currently trading at 23 times its earnings, indicating that the market is currently very expensive. On November 14, Alan McKnight, CIO at Regions Wealth Management, joined CNBC to share his position in the market and his expectations going forward.
McKnight admits that the market is not cheap at the moment, however, this does not mean that investors will stop buying. In fact, investors should continue to invest but beware of volatility. He adds that the opportunities are coming as we enter 2025. McKnight shares what is expected from the economy, traders should consider expanding their teams. He also remains bullish on small and mid-cap stocks.
READ MORE: 10 AI Stories You Can’t Miss This Weekend and 14 AI Stocks on Wall Street’s Radar
The presidential election is on hold, and with that, new questions about the investment outlook have emerged. Investors want to see how the proposed tariffs on Chinese goods and other imports will affect market behavior. On November 22, Jeffrey Kleintop, global chief investment officer at Charles Schwab, joined Rachelle Akuffo on. Yahoo Finance to share his market expectations and fundraising outlook for the new president’s term.
Kleintop shares that the combined tax revenue of the newly elected government will bring the weight of the US average to 26%, much higher than the current state. He adds that although there is “reason for concern” retailers should not make major changes to their portfolios. He also says that money is fixed by prices all the time, and since the dollar has gone up by 5%, most of the results have been reduced.
In addition to the idea of reducing risk, Kleintop suggests that diversification, away from popular themes in the United States, is important at this time. Currently, technology and artificial intelligence dominate the market, and investors should consider diversifying into other channels. He also shares that outside of the United States, money is doing well and he expects global stocks to grow going forward. He adds that Europe is a bright spot where we can see acceleration in revenue growth and cost-to-earnings.
He also agrees that AI has the potential to improve productivity, especially in areas that have been “slow,” and shares that he’s interested in seeing how AI markets pan out. While many experts and analysts are bullish on AI, stocks in this sector are very expensive in terms of stock value. Anyway, let’s take a look at the 10 cheapest things to buy right now.
To come up with 10 ridiculously cheap stocks to buy right now, we used the Finviz Stock Screener. We set the forward P/E to 8 and below and the market capitalization to $2 billion and above. We then narrowed down the top 30 stocks and obtained their forward P/E from Search Alpha and market capitalization from Yahoo Finance. We have placed them in the ascendant position of the observer above as of November 25, 2024.
Why do we like the stocks that hedge funds invest in? The reason is simple: our research has shown that we can outperform the market by following the best pictures of the best quality hedge funds. Our quarterly newsletter strategy selects 14 small-cap and large-cap stocks each quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more here)
Devon Energy (DVN): High Production and Strong Liquidity Make It a Top Seller
A group of experts in hazmat suits inspect a gas storage tank.
Analyst Upside as of November 25, 2024: 27%
Forward P/E as of November 25, 2024: 8.26
Market Capitalization as of November 25, 2024: $25.9 Billion
Devon Energy Corporation (NYSE: DVN ) is an oil and gas exploration and production company that ranks seventh on our list of the cheapest stocks to buy right now. The company’s operations are focused offshore in the United States.
In the third quarter of 2024, Devon Energy Corporation (NYSE: DVN) had a tight daily production of 335 barrels of oil, 194,000 barrels of natural gas, and approximately 200 billion cubic feet of natural gas. The company boasts a strong liquidity position. As of Q3 2024, the company has $3.7 billion in cash and cash equivalents of $0.7 billion with retired debt worth $0.5 billion.
For fiscal year 2025, the company expects to reinvest 65 percent of its cash flow into the company and have a working capital worth $4 to $4.2 billion. The company also expects production volumes to reach 800 mboed (Thousand barrels of oil equivalent per day), demonstrating its position as a leader in the industry. Devon Energy Corporation (NYSE: DVN) also has a $2.5 billion debt reduction program underway, of which 70% of the remaining debt is expected to mature after 2030.
For the year ahead in 2025, Devon Energy Corporation (NYSE: DVN ) hopes to maintain its portfolio, build on its capital, and deliver value to its shareholders. Its expansion strategy and growth trajectory align with the 2025 goals, giving it a place on our list.
Overall, DVN in 7th place on our list of ridiculously cheap stocks to buy right now. While we acknowledge DVN’s potential to grow, our confidence lies in the belief that other AI stocks have greater promise to deliver higher returns and do so within a short period of time. If you are looking for an AI stock that is more promising than DVN but that trades less than 5 times its earnings, check out our list of cheap AI stock.
READ THE FOLLOWING:8 Best Wide Moat Stocks to Buy Now and 30 Most Valuable AI Stocks According to BlackRock
Disclosure: None. This article was published on Insider Monkey.
