PXD - Devon Energy: Buy Sell or Hold?
2023-11-19 05:04:00 ET
Pure-play energy producer Devon Energy (NYSE: DVN) recently witnessed one of its largest peers, Pioneer Natural Resources (NYSE: PXD) , accept an acquisition offer from ExxonMobil (NYSE: XOM) . Investors could see that as a sign that Devon is a takeout candidate, too. But the most likely potential buyer, Chevron (NYSE: CVX) , chose to buy Hess (NYSE: HES) . It seems likely that Devon will remain a stand-alone energy producer for a little longer. That is both good and bad for investors.
Devon is fairly well respected as an energy producer. It has a solid financial foundation and a stable production profile. Add in a reasonably attractive cost structure, and there is a lot to like about the company as an investment. For those who want a pure-play energy producer, it is very much worth a look.
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Devon Energy: Buy, Sell, or Hold?