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Two Beaten-Down Energy Stocks See Big Insider Buys

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Two energy explorers whose stocks outperformed the broader market in 2022—a monster year for the sector—are slumping this year, but insiders at both companies recently bought up shares.



ConocoPhillips


(ticker: COP) and


Devon Energy


shares (DVN) soared 63% and 40%, respectively, in 2022, trouncing the


S&P 500 index


which dropped 19%. The


Energy Select Sector SPDR


exchange-traded fund (XLE)—which includes both ConocoPhillips and Devon as components—leapt 58% in 2022.

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