Company: Devon Energy Corp

(Reuters) - Just six months ago energy companies were the kings of the hill, delivering stronger results than any other market sector, but 2012 is looking very different, if first-quarter results are signs of future fortune.

A deep and prolonged slump in natural gas prices has thrown much of the industry’s largest produces into a state of panic and turmoil. As prices have fallen, so have stock prices — with shares of natural gas giants like Chesapeake Energy spacer, Devon Energy spacer, and Encana spacer have fallen twenty-plus percent over the last year.

From the entire S&P 500, which stocks are analysts expecting to have the biggest pops?

To capitalize on the higher gas price, CNBC’s Jim Cramer says, oil and gas drilling companies are shifting away from natural gas and focusing more on oil. In turn, they are exploiting their reserves and increasing their outputs. The Lundberg Survey suggests the price of gas isn’t likely to fall anytime soon, so Cramer thinks these companies may enjoy increased profits for some time.

Corporations hold large amounts of cash for a variety of reasons, including speculation on the price of assets, corporate acquisitions, future investments or even as a precaution against market uncertainty.