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This Energy Stock Looks Wildly Undervalued Compared to the S&P 500

TheMotleyFool

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This Energy Stock Looks Wildly Undervalued Compared to the S&P 500: https://g.foolcdn.com/editorial/images/721523/a-person-working-near-an-oil-pump-with-the-sun-setting-in-the-background.jpg

Shares of Devon Energy (NYSE: DVN) have gone from white-hot to ice-cold over the past few months. The oil company's stock initially surged along with crude prices last year. However, they've cooled off considerably in recent months and are now about 30% below their peak due to lower oil prices, a falling dividend, and a higher capital spending plan.

Because of that sell-off, shares of Devon look very attractive these days, especially compared to broader market indexes like the S&P 500 and Nasdaq Composite. Here's a closer look at this dirt cheap energy stock.

Devon Energy recently released its 2023 outlook:

Source Fool.com

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