DVN is one of my Top Picks in our Sweet 16 Growth Portfolio, trading at a 63% discount to my valuation and it pays a nice dividend.
Truist Financial Update 4-12-2021
Devon Energy Corporation (DVN, $22.04, Buy) - Little 1Q
Angst with Variable Dividend Becoming Steady - We forecast
Devon to generate nearly the highest FCF/EV or FCF yield
of any diversified E&P in our coverage w/our estimates of as
much as 20% by next year. There is little that should alter DVN's
quarterly FCF trajectory potentially hitting as much as $450mm by
4Q21. We anticipate the May 5 1Q21 conference call to have few
surprises given a late March ops update that included weather/
asset sale impacts. While we expect few changes in federal
energy regulation as an upcoming August deadline is reached,
we still believe Devon would like to add to its 400,000+ Delaware
Basin and other acres. - Neal Dingmann
Devon Energy (DVN) Update - April 12
Devon Energy (DVN) Update - April 12
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group