DVN - These 2 Oil Stocks Are Insanely Cheap
The price of crude oil has been all over the place in recent years. That's causing most investors to avoid the sector. However, crude has recovered some of its lost ground over the past year thanks to continued production curtailments by OPEC and a drilling slowdown in the U.S.
Despite those positive developments, sentiment in the sector remains negative, which is why most oil stocks haven't recovered even though their operations and financial profiles have significantly improved. That's leading several to trade at insanely cheap levels, especially considering the free cash flow they're on track to produce this year given that crude prices are near $60 a barrel these days. Two of those dirt cheap free cash flow machines are Devon Energy (NYSE: DVN) and Diamondback Energy (NASDAQ: FANG), especially compared to rival Concho Resources (NYSE: CXO).
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