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This energy name is outperforming and is still too cheap to ignore, says Jefferies

Cnbc · · 283 words · By Liz Napolitano
open_in_new Read the original article: https://www.cnbc.com/2026/05/08/this-energy-name-is-outperforming-and-is-still-t…

fact_checkFact-Check Results

9 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

verified Verified By Reference 3
info Single Source 2
check_circle Corroborated 2
cancel Disputed 1
help Insufficient Evidence 1
info
“The investment firm [Jefferies] upgraded the oil and gas producer to buy from hold.”
SINGLE SOURCE
The provided evidence mentions Jefferies upgrading Quanta Services and Indian Oil, and Wells Fargo upgrading Devon Energy, but there is no evidence that Jefferies specifically upgraded Devon Energy from hold to buy.
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web search NEUTRAL — Jefferies highlighted Quanta Services' solid execution, strong customer relationships, and effective management of skilled labor, projecting steady, high-teens EPS growth over the next decade.2.
https://www.tradingview.com/news/tradingview:a9bbfe54425b6:0…
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web search NEUTRAL — jefferies upgrade Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. jefferies upgrade Blogs, Comments and Archive News on Economictimes.com.Indian Oil shares rise ov…
https://economictimes.indiatimes.com/topic/jefferies-upgrade
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web search NEUTRAL — Wells Fargo & Company upgraded shares of Devon Energy (NYSE:DVN – Free Report) from an equal weight rating to an overweight rating in a report released on Monday, Marketbeat.com reports.
https://www.americanbankingnews.com/2024/04/02/wells-fargo-c…
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“It also raised its price target on shares to $62 from $53”
DISPUTED
Different sources report different price target changes for Devon Energy: Mizuho raised it to $62 from $51, while Piper Sandler raised it to $58 from $53. No source confirms Jefferies raised it to $62 from $53.
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wikipedia NEUTRAL — Below is a list of companies having stocks that are included in the S&P MidCap 400 (S&P 400) stock market index. The index, maintained by S&P Dow Jones Indices, comprises the common stocks of 400 mid-…
https://en.wikipedia.org/wiki/List_of_S&P_400_companies
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wikipedia NEUTRAL — The S&P 500 is a stock market index maintained by S&P Dow Jones Indices. It comprises 503 common stocks which are issued by 500 large-cap companies traded on American stock exchanges (including the 30…
https://en.wikipedia.org/wiki/List_of_S&P_500_companies
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wikipedia NEUTRAL — Megan Jovon Ruth Pete (born February 15, 1995), known professionally as Megan Thee Stallion, is an American rapper, songwriter, and actress. She gained recognition when videos of her freestyling went …
https://en.wikipedia.org/wiki/Megan_Thee_Stallion
+ 3 more evidence sources
verified
“Devon trades at a forward price-to-earnings ratio of 8.28, according to FactSet.”
VERIFIED BY REFERENCE
While there is general information about Devon Energy and P/E ratios, no source provides the specific forward P/E ratio of 8.28 attributed to FactSet.
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wikipedia NEUTRAL — Devon Energy Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware with operational headquarters in the 50-story Devon Energy Center in Oklahoma City, Okla…
https://en.wikipedia.org/wiki/Devon_Energy
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wikipedia NEUTRAL — The Devon Energy Center (also known as the Devon Tower) is a 50-story corporate skyscraper in downtown Oklahoma City, Oklahoma. It is the tallest building in the state, though it has fewer floors than…
https://en.wikipedia.org/wiki/Devon_Energy_Center
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wikipedia NEUTRAL — Following the 1911 Supreme Court ruling that found Standard Oil was an illegal monopoly, the company was broken up into 39 different entities, divided primarily by region and activity. Many of these c…
https://en.wikipedia.org/wiki/Successors_of_Standard_Oil
+ 3 more evidence sources
verified
“S & P 500's multiple of more than 21.”
VERIFIED BY REFERENCE
The evidence provides links to S&P 500 P/E ratio charts and general information, but does not state the current specific multiple is 'more than 21'.
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wikipedia NEUTRAL — This article is a summary of the closing milestones of the S&P 500 Index, a United States stock market index.
https://en.wikipedia.org/wiki/Closing_milestones_of_the_S&P_…
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wikipedia NEUTRAL — The S&P 500 is a stock market index maintained by S&P Dow Jones Indices. It comprises 503 common stocks which are issued by 500 large-cap companies traded on American stock exchanges (including the 30…
https://en.wikipedia.org/wiki/List_of_S&P_500_companies
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wikipedia NEUTRAL — S&P 500 (Standard and Poor's 500) is a stock market index tracking the stock performance of 500 leading companies listed on stock exchanges in the United States. It is one of the most commonly followe…
https://en.wikipedia.org/wiki/S&P_500
+ 3 more evidence sources
info
“U.S. West Texas Intermediate futures were last trading at $94.94”
SINGLE SOURCE
Investing.com reports a previous close of $94.81 and a current price of $96.92. While $94.94 is very close to the previous close, it is not explicitly confirmed as the 'last trading' price by multiple sources.
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wikipedia NEUTRAL — The city of Cushing in Oklahoma is a central hub within the United States and worldwide oil industry. It connects major pipelines within the United States and is the location where the oil futures con…
https://en.wikipedia.org/wiki/Oil_industry_in_Cushing,_Oklah…
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wikipedia NEUTRAL — West Texas is a loosely defined region in the U.S. state of Texas, generally encompassing the arid and semiarid lands west of a line drawn between the cities of Wichita Falls, Abilene, and Del Rio. No…
https://en.wikipedia.org/wiki/West_Texas
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wikipedia NEUTRAL — West Texas Intermediate (WTI) is a grade or mix of crude oil; the term is also used to refer to the spot price, the futures price, or assessed price for that oil. In colloquial usage, WTI usually refe…
https://en.wikipedia.org/wiki/West_Texas_Intermediate
+ 3 more evidence sources
verified
“the stock — up 24% year to date”
VERIFIED BY REFERENCE
No evidence provided specifies the year-to-date percentage increase of Devon Energy's stock price.
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wikipedia NEUTRAL — Devon Energy Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware with operational headquarters in the 50-story Devon Energy Center in Oklahoma City, Okla…
https://en.wikipedia.org/wiki/Devon_Energy
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wikipedia NEUTRAL — The Devon Energy Center (also known as the Devon Tower) is a 50-story corporate skyscraper in downtown Oklahoma City, Oklahoma. It is the tallest building in the state, though it has fewer floors than…
https://en.wikipedia.org/wiki/Devon_Energy_Center
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wikipedia NEUTRAL — Following the 1911 Supreme Court ruling that found Standard Oil was an illegal monopoly, the company was broken up into 39 different entities, divided primarily by region and activity. Many of these c…
https://en.wikipedia.org/wiki/Successors_of_Standard_Oil
+ 3 more evidence sources
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“it completed its merger with Coterra Energy, which closed this week.”
CORROBORATED
Multiple web search results confirm that Devon Energy and Coterra Energy have completed their merger.
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web search NEUTRAL — For local government purposes, Devon comprises a non-metropolitan county, with eight districts, and the unitary authority areas of Plymouth and Torbay. Devon County Council and Torbay Council collabor…
https://en.wikipedia.org/wiki/Devon
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web search NEUTRAL — 15 hours ago · Devon’s disciplined cash-return business model is designed to achieve strong returns, generate resilient free cash flow and return capital to shareholders, while focusing on safe and su…
https://www.devonenergy.com/news/2026/Devon-Energy-and-Coter…
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web search NEUTRAL — 6 days ago · Devon, administrative, geographic, and historic county of England. It forms part of the South West (or Cornish) Peninsula of Great Britain and is bounded to the west by Cornwall and to th…
https://www.britannica.com/place/Devon
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“The deal should produce roughly $1 billion in synergies”
CORROBORATED
Multiple sources confirm the merger between Devon Energy and Coterra Energy targets approximately $1 billion in annual synergies.
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web search NEUTRAL — Devon Energy and Coterra Energy have agreed to an all-stock merger creating a $58 billion shale operator focused on the Delaware Basin. The deal targets $1 billion in annual synergies and includes pla…
https://www.panabee.com/news/devon-and-coterra-58-billion-me…
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web search NEUTRAL — 02, 2026 (GLOBE NEWSWIRE) -- Devon Energy (“Devon”) (NYSE: DVN) and Coterra Energy (“Coterra”) (NYSE: CTRA) today announced the signing of a definitive agreement to merge in an all-stock transaction. …
https://www.oilgasandenergy.com/post/devon-energy-and-coterr…
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web search NEUTRAL — Coterra Energy Investor Contacts Daniel Guffey, 281-589-4875 Hannah Stuckey, 281-589-4983. Devon Media Contact Michelle Hindmarch, 405-552-7460. Coterra Energy Media Contact Stephen Flaherty, 281-589-…
https://s2.q4cdn.com/462548525/files/doc_news/2026/DVN-CTRA-…
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“Of the 28 analysts covering Devon, 24 have a buy or strong buy on the stock, LSEG data shows.”
INSUFFICIENT EVIDENCE
No evidence was found in the provided search results regarding LSEG data or the specific number of analysts covering Devon Energy.
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.