Devon Energy Should Be A Shale Winner

The Value Portfolio
Investing Group Leader

Summary

  • Devon Energy Corporation has an incredibly strong balance sheet coming off of the back of the strongest year in its history (2022).
  • The company is one of the few shale companies investing in growth, with a 9% production growth forecast for the year.
  • The company's breakeven for an 8% free cash flow yield is just below current crude oil prices, showing it remains profitable despite large capital spending.
  • We recommend investing in Devon Energy Corporation, taking advantage of the most recent dip in its share price.
  • We're currently running a sale for our private investing group, The Retirement Forum, where members get access to portfolios, market alerts, real-time chat, and more. Learn More »

Drilling Fracking Rig at Dusk

grandriver

Devon Energy Corporation (NYSE:DVN) is one of the largest shale companies in the United States. The company has a market capitalization of more than $35 billion, however, its share price is still down roughly 30% from highs set last year. As we'll see

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This article was written by

The Value Portfolio
36.21K Followers

The Value Portfolio specializes in building retirement portfolios and utilizes a fact-based research strategy to identify investments. This includes extensive readings of 10Ks, analyst commentary, market reports, and investor presentations. He invests real money in the stocks he recommends.

He is the leader of the investing group The Retirement Forum with features including: model portfolios, macro overviews, in-depth company analysis and retirement planning information. Learn more.

Analyst’s Disclosure:I/we have a beneficial long position in the shares of DVN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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