Devon Energy (DVN) Valuation Update - Nov 28

[dan_s]

Devon Energy is a former Sweet 16 company that I moved into our High Yield Income Portfolio last year.
> They reported outstanding 3rd quarter results that beat my forecast.
> They increased their "Base + Variable" dividend from $0.49 to $0.77 < based on Q3 free cash flow.
> Their stockholder returns are split between dividends and stock buybacks
> Free cash flow in 2024 should be $3.5 to $4.0 billion

My updated current valuation of $64.00/share compares to TipRanks current consensus of price target of $56.59.

DVN was trading at $45.07 when I posted this.

[Cliff_N]

Thanks! Might be time to buy some. Sold last year.