Long Position on DVN @ $51.25 on 1/28/2022 (Fundamentals)

Devon Energy Corporation (DVN), an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States.

It operates approximately 3,942 gross wells. Devon Energy Corporation was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.

Please note, this stock reports earnings on Tuesday, February 15th.

Devon Energy reported 3rd Quarter September 2021 earnings of $1.08 per share on revenue of $3.5 billion. The consensus earnings estimate was $0.92 per share on revenue of $3.2 billion. Revenue grew 224.8% on a year-over-year basis.

With the oil sector on the rise amidst the uncertainty in the market, the company has redirected its focus to be on creating value for shareholders, rather than driving profits higher, especially through a 3.8% dividend. Through higher cashflow and lower oil prices after the merger with the smaller, WPX Energy, the stock should report strong earnings.

Entry Point: $51.25

Trading Range: $16.17 - $54.26

Stop Loss: $49.00

Target Price: $56.00

Updates

2/16/2022 10:28:50 AM

DVN closed at $55.60

Position closed on 2/16/2022 at price of $55.60 with a 8.49% gain in 19 days.

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