Not every industry has shared in the benefits of the S&P 500's recent run, and one in particular is energy. Despite the market currently valued at a price to earnings ratio of greater than 17, some parts of the energy sector are trading at bargain basement prices. This could actually be a signal that the entire industry is undervalued and ready for a big run this year.

In this video, Fool contributor Tyler Crowe and energy and materials analyst Joel South discuss some of the industries that have been lagging lately and why they are both see big things in the future for Devon Energy (NYSE:DVN). What is it that makes Devon their favorite over other big names in the industry like EOG Resources (NYSE:EOG)? Tune in to find out.

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Joel South has no position in any stocks mentioned. Tyler Crowe has no position in any stocks mentioned. You can follow them both on Twitter @TMFEnergy and @TylerCroweFool, respectively

The Motley Fool owns shares of Devon Energy and EOG Resources. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.