Devon Energy (DVN 0.27%) was one of the first companies in the nation to realize the potential of the shale boom here in the U.S., but it had the reputation of a natural gas company. That bad rap has resulted in many investors shying away from it, but its recent merger deal with Crosstex Energy (XTXI +0.00%) and Crosstex Energy Partners (NASDAQ: XTEX) as well as the recent purchase of private company GeoSouthern show one thing: Devon Energy is undervalued.
In the video segment below, Fool contributor Tyler Crowe explains that when compared to other major shale drillers such as EOG Resources (EOG 0.06%), Devon is undervalued and could be a solid pickup for your portfolio based on these recent deals.
