Added to YB: 2024-06-21
Pitch date: 2024-04-05
DVN [bullish]
Devon Energy Corporation
-26.53%
current return
Author Info
No bio for this author
Company Info
Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States.
Market Cap
$23.4B
Pitch Price
$51.07
Price Target
N/A
Dividend
2.58%
EV/EBITDA
3.86
P/E
8.78
EV/Sales
1.86
Sector
Oil, Gas and Consumable Fuels
Category
growth
Alpha Wealth Funds – The Insiders Fund Portfolio Holding: Devon Energy Corporation
DVN: E&P focused on 5 U.S. oil plays, 60% in Delaware Basin. Q4 production beat guidance, +8% YoY driven by record oil volumes. $6.5B OCF, $2.7B FCF in 2023. $0.44 dividend, $234M buyback in Q4. $875M cash. 2024 outlook: efficiency & per-share growth. 10% dividend hike. Thesis: Solid assets/mgmt, accretive M&A likely welcomed. Sentiment improving. Leveraged upside via LEAPS.
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