Professional
Added to YB: 2024-07-23
Pitch date: 2024-07-08
DVN [bullish]
Devon Energy Corporation
-15.4%
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
$44.35
Price Target
59.00 (+57%)
Dividend
2.58%
EV/EBITDA
3.86
P/E
8.78
EV/Sales
1.86
Sector
Oil, Gas and Consumable Fuels
Category
special_situation
Devon Energy Corporation: Grayson Mills Energy Acquisition Improves Fair Value Estimate and Williston Position
DVN: Acquiring Grayson Mills for $5B, tripling Williston production. FV up to $59 from $56. 2024/2025 prod +11%/10% to 733/806 mboe/d. Low-cost producer in 4 top US shale basins. 17-yr inventory. 70% FCF to shareholders. Risks: commodity prices, federal permits. Medium uncertainty. Exemplary capital allocation.
Read full article (9 min)