PXD - Devon Energy: Cash Cow Investors Should Look At This
2024-03-25 12:34:29 ET
Summary
- Devon Energy is a diverse player in the oil and gas exploration and production market.
- The company has delivered significant returns to shareholders through acquisitions, share repurchases, and dividends.
- Management's guidance for 2024 shows a plan to keep production flat while reducing spending and rewarding shareholders.
- This opens the door to strong cash flows moving forward and could mean some further upside for investors from here.
When it comes to the oil and gas exploration and production market, investors have different preferences. Some, for instance, might prefer a company that is a pure-play on a specific region. Some might prefer a more diverse player. Some might prefer a company that has midstream assets included in the picture or that operates with royalty acreage. Frankly, an entire article could be dedicated to all the different types of options that are available out there. But for investors who do prefer a more diverse player that has a rather large market presence, you need look no further than Devon Energy ( DVN )....
Devon Energy: Cash Cow Investors Should Look At This