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Devon Energy Corporation's (DVN) CEO Rick Muncrief on Q1 2022 Results - Earnings Call Transcript

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Devon Energy Corporation (NYSE:DVN) Q1 2022 Earnings Conference Call May 3, 2022 11:00 AM ET

Company Participants

Scott Coody – Vice President, Investor Relations

Rick Muncrief – President and Chief Executive Officer

Clay Gaspar – Chief Operating Officer

Jeff Ritenour – Chief Financial Officer

Conference Call Participants

Arun Jayaram – J.P. Morgan

Neal Dingmann – Truist Securities

Jeanine Wai – Barclays

John Freeman – Raymond James

Matthew Portillo – TPH

Doug Leggate – Bank of America

Charles Meade – Johnson Rice


Welcome to Devon Energy's First Quarter 2022 Conference Call. At this time all participants are in listen-only mode. This call is being recorded.

I'd now like to turn the call over to Scott Coody, Vice President of Investor Relations. Sir, you may begin.

Scott Coody

Good morning and thank you to everyone for joining us on the call today. Last night, we issued an earnings release and presentation that cover our results for the quarter and updated outlook. Throughout the call today, we will make references to the earnings presentation to support prepared remarks, and these slides can be found on our website. Also joining me on the call today are Rick Muncrief, our President and CEO; Clay Gaspar, our Chief Operating Officer; Jeff Ritenour, our Chief Financial Officer; and a few other members of our senior management team.

Comments today will include plans, forecasts and estimates that are forward-looking statements under U.S. securities law. These comments are subject to assumptions, risks and uncertainties that could cause actual results to differ from our forward-looking statements. Please take note of the cautionary language and risk factors provided in our SEC filings and earnings materials.

With that, I'll turn the call over to Rick.

Rick Muncrief

Thank you, Scott. Great to be here this morning. We appreciate everyone taking the time to join

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Comments (5)

A year ago I read the DVN earnings call posted on SA and thought good golly I’ve got to get more of this company. Now I read this earnings call a year later and think what better investment is there than DVN ? In my opinion this is a very talented management team who initiated the fixed/variable dividend format now followed by most in the industry. Even though they’ve moved from 18 to 69 while I’ve been following them they still seem waaaay undervalued relative to most stocks in the universe. Sure they have competition from like industry competitors but most all other stocks are significantly overvalued relative to DVN. I will continue to add on any pullbacks. My target at the beginning of the year was 70. We are basically there now. 100 now seems very doable, but maybe I’m just wrapped up in the moment. Gonna find out though.
Set my stops too high and golt stopped out in the collapse this morning. Looking for a re-entry point to get that sweet dividend next month. Got stopped out of XOM as well.
So DVN seems to be saying it kept up drilling during 2020-2021. If so, that means it has rigs and crews in place vs competitors who can't find such.
ChuckXX profile picture
THANK YOU to Seeking Alpha for printing this transcript. I appreciate it.
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