Devon Energy (DVN) Update - March 24

[dan_s]

DVN is trading at $22.62 at the time of this post.

In the last two weeks five respected energy sector analyst have updated their price targets on Devon Energy (DVN)
Goldman Sachs 3/23/2021 $30.75
Citigroup 3/23/21 $29.00
JP Morgan 3/18/201 $30.00
Merrill Lynch 3/16/2021 $36.00
Piper Sandler 3/11/2021 $37.00

I am reviewing the updated profile now and we will publish it tomorrow. Devon produces a lot of high value NGLs, so my valuation will be going up.

[dan_s]

My updated profile on Devon Energy will be posted to the EPG website this evening.

DVN closed at $22.34 today
My valuation is $36.00

DVN is currently trading at less than 3.5 X operating cash flow per share. When the result of the all-stock merger with WPX sinks in, DVN should quickly move over $30/share. It is one of the "Elite Eight" in our Sweet 16 and it has lots of upside for us.