| | | Re: Devon Energy Corp (DVN) - started tracking position
Started a small tracking position in this NG/Oil domestic driller.
Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2021, Devon's proved reserves totaled 1.6 billion barrels of oil equivalent, and net production that year was 572 mboe/d (of which, oil and natural gas liquids made up 74% of production, with natural gas accounting for the remainder) I like their domestic NG exposure (and reserves). PE 5.7x; pays a 4.4% dividend;
Peled off 25% of my OVV (The old ENCANA) that I bought 3/6/2020. I generated a 32% CAGR and even more on earlier sales this year.
My target for DVN is between $45 - $48 reversion to mean play or 71% return. Will add more shares every 5% lower. |
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