2024-02-04 00:00:47 ET
Summary
- Devon Energy projects Delaware Basin production to remain flat in 2024 which means overall company production will likely also remain level.
- Despite a temporary leveling in production growth, the company has turned its attention to capital efficiency and projects substantial FCF growth in 2024.
- This growth in FCF should support shares as dividend and share buybacks remain strong in 2024 as oil prices potentially bottom.
Devon Energy ( DVN ) is an oil and gas company with a market cap of $27.22 billion....
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Devon Energy: Accumulating The Dip