Devon Energy (NYSE:DVN) is big; its the ninth-largest U.S. energy company. Yet, somehow this energy giant has underperformed the market in the past year while North America has faced a massive oil and gas boom. It has underperformed so much that even the company's CEO, John Richels, has gone on the record saying that the company trades at a deep discount to its peers. How can this be?

A lot has to do with labels, and Devon has been labeled a natural gas company. In this video, Fool.com contributor Tyler Crowe explains why this label could be miseading for investors, and how recent trends in the natural gas space shouldn't be scary for investors.