DVN Stock Recent News

Devon Energy (DVN 0.95%) will not be the right choice in the energy patch for all investors. That is because of the type of company it is, sitting only in the upstream segment of the industry.

With the overall market looking expensive, it can be prudent for investors in search of new stocks to add to their portfolios to dig into companies that, for whatever reason, are trading at discounts. Some might have the potential to close their valuation gaps and become above-average investments.

Over the past three months, West Texas Intermediate crude prices have spiked around 15% only to turn around and come back down to a roughly 4% gain. There are supply-and-demand and geopolitical reasons for the price move, but the truth is that this type of volatility isn't uncommon in the energy sector.

Devon Energy is undervalued and offers significant growth and income potential due to its high-quality rock positions and shareholder-friendly capital returns. The company exceeded Q4 production guidance, showing strong integration of the Grayson Mill deal, and maintains a top-tier operating margin despite lower YoY comparisons. Near-term catalysts include potential gas price increases and value creation from operational efficiencies, such as the breakup with BPX.

Devon Energy is focused on aggressively growing production, both into 2024, along with double-digit growth into 2025. The company has a strong dividend that it's increasing, and it plans to continue increasing that dividend going forward. The company's aggressive share repurchases will combine with a growing dividend and production to enable overall shareholder returns.

Investors interested in Oil and Gas - Exploration and Production - United States stocks are likely familiar with Devon Energy (DVN) and EOG Resources (EOG). But which of these two stocks offers value investors a better bang for their buck right now?

Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?

I'll cut to the chase. Devon Energy (DVN -0.48%) is an attractive stock, but only for a specific type of investor.

DVN's multi-basin holdings and rising earnings estimates make it attractive. Investors should add the stock to their portfolio as it is trading at a discount and delivering strong results.

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