Devon Energy And 2 More Top Oil Stocks To Watch

Oil prices recently moved above $111 a barrel after fresh attacks on Saudi energy facilities, reminding investors how quickly supply shocks can reshape the market. That kind of disruption puts the biggest, most resilient oil and gas producers back in focus for anyone thinking about portfolio defence and income. This article highlights three large, globally important oil companies from our screener that many investors are watching closely.

The three oil and gas stocks below are only a sample, and the full screen surfaced 32 more producers with equally compelling stories that are not covered here. To identify and analyze the highest conviction opportunities across the sector, go straight to the Oil and Gas screener.

Devon Energy (DVN)

Overview: Devon Energy is a U.S. focused producer of crude oil and natural gas liquids, with key shale positions across major domestic basins.

Operations: Devon Energy generates about US$18.8b in revenue from oil and gas exploration and production activities entirely within the United States.

Market Cap: US$57.9b

Devon Energy matters in this Oil and Gas screener because its Delaware Basin focused drilling program ties investor outcomes directly to upstream oil and liquids production across premier U.S. acreage.

"Devon Energy's expanding application of AI tools from drilling and completions into autonomous artificial lift on more than 1,000 wells, along with broader deployment across legacy Coterra wells, is expected to keep lowering unit operating costs and sustaining capital efficiency improvements that support operating margins and free cash flow."

The key variable for Devon Energy now is how one still evolving cost pressure ultimately feeds through to margins and shareholder returns.

That margin question is exactly what the full narrative for Devon Energy unpacks, separating short term noise from longer term forces that could be masking Devon Energy's true earnings power.

Ovintiv (OVV)

Overview: Ovintiv is a North American oil and gas producer focused on extracting and selling oil, NGLs, and natural gas from the Permian, Anadarko, and Montney plays.

Operations: Ovintiv generates about US$6.0b from USA Operations and US$3.6b from Canadian Operations, reflecting a largely U.S. weighted upstream portfolio.

Market Cap: US$19.4b

Ovintiv matters for the Oil and Gas screener because its wells in the Permian, Anadarko, and Montney directly convert hydrocarbon reserves into cash generating production that tracks global commodity cycles.

"Ongoing efficiency gains in Ovintiv's Permian and Montney programs, including cube development, real time frac optimization, Simul frac, AI driven drilling control, and wet sand, are supporting more than a 10% improvement in oil productivity per foot since 2023 and D&C costs below $600 per foot in the Permian and $500 per foot in the Montney."

The real question for Ovintiv now is how one unresolved pressure on future free cash flow shapes what investors actually receive over time.

That pressure point is exactly where the opportunity may be hiding, and the full narrative for Ovintiv shows how Ovintiv's capital plans could turn it into accelerating investor cash returns.

ExxonMobil Holdings (XOM)

Overview: ExxonMobil Holdings is a global energy group whose core upstream operations explore for and produce crude oil and natural gas worldwide, supported by fuel, chemical, specialty products, and early stage lower emission businesses.

Operations: ExxonMobil Holdings generates around US$511.5b in segment revenue, led by Energy Products in the United States and other international markets, alongside sizable upstream oil and gas production.

Market Cap: US$731.3b

For ExxonMobil Holdings, the appeal in this Oil and Gas screener is the sheer scale of its upstream production engine, which feeds directly into global crude and gas supply at a time when reliable barrels matter as much as new discoveries.

"Strong production growth from high return assets in Guyana and the Permian Basin remains central, with upstream volumes outside the Middle East at the highest level in more than two decades and the Permian at over 1.8 million oil equivalent barrels per day, which supports future revenue and earnings per barrel."

What investors really have to watch is how one evolving cost and capital discipline test shapes ExxonMobil Holdings' future margins and cash returns.

That margin test is exactly where the story gets interesting, and the full narrative for ExxonMobil Holdings maps how ExxonMobil Holdings could turn disciplined capital into accelerating, resilient cash generation.

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