-
Posted by
Two Blokes Jun 12 -
Filed in
Stock
-
6 views
I am rating Devon Energy with a Buy and a $40 price target based on historical valuations of a 4.8x EV/EBITDA multiple, assuming an average realized oil price of $62. Devon is generating value by reducing costs, focusing on profitability, and capital discipline, resulting in a free cash flow breakeven WTI oil price of $45 per barrel. DVN's strategy allows it to return capital to shareholders through buybacks and cash dividend payments.
