PXD - Devon Energy Stock: An Undervalued Energy Player With High Potential

• Oil, 50% of Devon Energy’s product output mix, has spiked up in prices to reach 8-year highs and is currently trading around $105/bbl.
• Devon's operating cash flow increased 3x during FY21 and free cash flow is at all-time highs.
• The company's board authorized increasing its share repurchase program by 60%, along with a 45% permanent increase in fixed dividends.
• Devon Energy's EV/EBITDA of 8.4x and 12.5x P/E ratio makes the company relatively undervalued compared to its peer group.

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