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With the Grayson Mill deal now closed, management's preliminary 2025 outlook put it at a free-cash-flow (FCF) yield of 9% at a price of oil of $70 per barrel, 14% at $80 a barrel, and 5% at $60 a ...
Devon Energy (NYSE: DVN) is a fairly easy company to understand. Here's why Devon Energy could be a buy, a sell, and a hold -- all at the same time. ... Sign Up For Free » ... *Stock Advisor ...
The Stock Advisor service has more than quadrupled the return of S&P 500 since 2002*. See the 10 stocks » *Stock Advisor returns as of May 6, 2024. Lee Samaha has no position in any of the stocks ...
Devon Energy's (NYSE: DVN) stock price has fallen nearly 30% from its 52-week highs. That drop roughly tracks along with the price declines in West Texas Intermediate crude, a key U.S. oil benchmark.
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The company used its excess cash (free cash flow and balance sheet cash) to pay its quarterly dividend, retire $472 million of debt at maturity, and repurchase $295 million of its stock.
On top of that, the oil producer plans to ramp its annual share repurchase rate from $5 billion to $7 billion, with the aim of buying back over $20 billion in stock in the first three years ...
First, Devon's free-cash-flow yield is very high at the current stock price. Management helpfully gives an outline estimate of its FCF yield at a range of oil prices per barrel in 2024.