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55.24 (1y: -3%)
Market Cap 22.31 B P/E(ttm)
Enterprise Value 27.98 B P/B 1.10
DVN- NYSE (USA)
Devon Energy Corp
  • Currently 1/5
Business Predictability Rank: 1-Star (On Watch)
Back Testing Results:
Average gain of all 1-Star stocks: 1.1% per year.
% of Stocks that are in still loss if held for 10yrs: 45%.
Read more:
What is Predictability Rank?
Performances of real portfolio
Top Ranked Predictable Companies
$55.24
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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 5/10

vs
industry		 vs
history
Cash to Debt 0.599
DVN's Cash to Debt is ranked higher than
79% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.16 vs. DVN: 0.599 )
DVN' s 10-Year Cash to Debt Range
Min: 0.03   Max: 0.72
Current: 0.6
0.03
0.72
Equity to Asset 0.491
DVN's Equity to Asset is ranked higher than
71% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.52 vs. DVN: 0.491 )
DVN' s 10-Year Equity to Asset Range
Min: 0.25   Max: 0.59
Current: 0.49
0.25
0.59
F-Score: 2
Z-Score: 1.09
M-Score: -2.16
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry		 vs
history
Operating margin (%) -3.30
DVN's Operating margin (%) is ranked higher than
64% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.00 vs. DVN: -3.30 )
DVN' s 10-Year Operating margin (%) Range
Min: -56.5   Max: 46.8
Current: -3.3
-56.5
46.8
Net-margin (%) -2.2
DVN's Net-margin (%) is ranked higher than
65% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.00 vs. DVN: -2.2 )
DVN' s 10-Year Net-margin (%) Range
Min: -30.9   Max: 45.8
Current: -2.2
-30.9
45.8
ROE (%) -1
DVN's ROE (%) is ranked higher than
63% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.00 vs. DVN: -1 )
DVN' s 10-Year ROE (%) Range
Min: -15.9   Max: 23.6
Current: -1
-15.9
23.6
ROA (%) -0.5
DVN's ROA (%) is ranked higher than
65% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.00 vs. DVN: -0.5 )
DVN' s 10-Year ROA (%) Range
Min: -8.4   Max: 13.8
Current: -0.5
-8.4
13.8
ROC (Joel Greenblatt) (%) -1.20
DVN's ROC (Joel Greenblatt) (%) is ranked higher than
62% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.00 vs. DVN: -1.20 )
DVN' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -24.3   Max: 26.8
Current: -1.2
-24.3
26.8
Revenue Growth (%) 6.5
DVN's Revenue Growth (%) is ranked higher than
84% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.00 vs. DVN: 6.5 )
DVN' s 10-Year Revenue Growth (%) Range
Min: -6.2   Max: 23.4
Current: 6.5
-6.2
23.4
EPS Growth (%) -44.7
DVN's EPS Growth (%) is ranked lower than
53% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.00 vs. DVN: -44.7 )
DVN' s 10-Year EPS Growth (%) Range
Min: -44.7   Max: 112.8
Current: -44.7
-44.7
112.8
» DVN's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades
Q2 2012

DVN Guru Trades in Q2 2012

Bill Nygren 1,400,000 sh (New)
Louis Moore Bacon 50,000 sh (New)
Arnold Schneider 87,003 sh (New)
RS Investment Management 72,461 sh (New)
Martin Whitman 518,149 sh (New)
Jean-Marie Eveillard 4,185,849 sh (+275285%)
Steven Cohen 308,190 sh (+630.2%)
Jim Simons 1,755,200 sh (+329.25%)
Third Avenue Management 1,234,665 sh (+84.69%)
Diamond Hill Capital 3,088,927 sh (+37.5%)
Ken Fisher 3,514 sh (+10.78%)
Charles de Vaulx 3,636,010 sh (+3.88%)
Tweedy Browne 1,537,376 sh (+2.28%)
Mario Gabelli 192,400 sh (+1.64%)
First Pacific Advisors 25,000 sh (unchged)
Tweedy Browne Global Value 49,250 sh (unchged)
Daniel Loeb Sold Out
Paul Tudor Jones Sold Out
Chris Davis 9,951,837 sh (-0.78%)
David Dreman 473,100 sh (-13.98%)
T Boone Pickens 124,947 sh (-34.24%)
Pioneer Investments 3,962 sh (-99.46%)
» More
Q3 2012

DVN Guru Trades in Q3 2012

Richard Snow 25,313 sh (New)
Paul Tudor Jones 3,500 sh (New)
Louis Moore Bacon 315,000 sh (+530%)
Arnold Schneider 219,268 sh (+152.02%)
Third Avenue Management 2,354,721 sh (+90.72%)
Bill Nygren 2,200,000 sh (+57.14%)
Pioneer Investments 4,685 sh (+18.25%)
Diamond Hill Capital 3,128,066 sh (+1.27%)
Jean-Marie Eveillard 4,236,679 sh (+1.21%)
Mario Gabelli 194,400 sh (+1.04%)
Martin Whitman 1,125,344 sh (+117.19%)
Tweedy Browne Global Value 49,250 sh (unchged)
First Pacific Advisors 25,000 sh (unchged)
Signature Select Canadian Fund Sold Out
Ken Fisher Sold Out
Chris Davis 9,903,826 sh (-0.48%)
Tweedy Browne 1,526,518 sh (-0.71%)
T Boone Pickens 123,226 sh (-1.38%)
Charles de Vaulx 3,495,823 sh (-3.86%)
RS Investment Management 60,291 sh (-16.8%)
David Dreman 327,449 sh (-30.79%)
Jim Simons 967,700 sh (-44.87%)
Steven Cohen 15,749 sh (-94.89%)
» More
Q4 2012

DVN Guru Trades in Q4 2012

Tweedy Browne Global Value 983,850 sh (+1897.66%)
Paul Tudor Jones 11,800 sh (+237.14%)
Tweedy Browne 3,737,500 sh (+144.84%)
Third Avenue Management 3,523,136 sh (+49.62%)
Bill Nygren 2,905,000 sh (+32.05%)
Jean-Marie Eveillard 5,326,710 sh (+25.73%)
Pioneer Investments 5,627 sh (+20.11%)
Charles de Vaulx 3,695,560 sh (+5.71%)
Martin Whitman 1,844,659 sh (+63.92%)
Jeremy Grantham 74,700 sh (unchged)
Louis Moore Bacon Sold Out
T Boone Pickens 122,747 sh (-0.39%)
Steven Cohen 15,474 sh (-1.75%)
Richard Snow 24,753 sh (-2.21%)
Diamond Hill Capital 3,020,335 sh (-3.44%)
Mario Gabelli 180,100 sh (-7.36%)
Arnold Schneider 198,673 sh (-9.39%)
First Pacific Advisors 21,000 sh (-16%)
Chris Davis 7,131,339 sh (-27.99%)
Jim Simons 555,400 sh (-42.61%)
David Dreman 66,146 sh (-79.8%)
RS Investment Management 2,110 sh (-96.5%)
» More
Q1 2013

DVN Guru Trades in Q1 2013

Chuck Royce 3,300 sh (New)
Ray Dalio 12,300 sh (New)
Louis Moore Bacon 120,000 sh (New)
Richard Snow 62,453 sh (+152.3%)
Jean-Marie Eveillard 7,963,435 sh (+49.5%)
Steven Cohen 21,417 sh (+38.41%)
Mario Gabelli 232,700 sh (+29.21%)
Third Avenue Management 3,891,422 sh (+10.45%)
Arnold Schneider 213,678 sh (+7.55%)
Diamond Hill Capital 3,109,533 sh (+2.95%)
Tweedy Browne 3,741,710 sh (+0.11%)
Martin Whitman 2,200,889 sh (+19.31%)
Charles de Vaulx 3,695,560 sh (unchged)
Tweedy Browne Global Value 983,850 sh (unchged)
Paul Tudor Jones Sold Out
First Pacific Advisors Sold Out
RS Investment Management Sold Out
Jim Simons Sold Out
Pioneer Investments Sold Out
T Boone Pickens 122,295 sh (-0.37%)
Bill Nygren 2,805,000 sh (-3.44%)
David Dreman 58,169 sh (-12.06%)
Chris Davis 5,327,043 sh (-25.3%)
Jeremy Grantham 48,400 sh (-35.21%)
» More
» Details

Insider Trades

Latest Guru Trades with DVN

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Jean-Marie Eveillard 2013-03-31 Add 49.5%0.5%$52.04 - $61.48 $ 55.3-1%7963435
Mario Gabelli 2013-03-31 Add 29.21%0.02%$52.04 - $61.48 $ 55.3-1%232700
Ray Dalio 2013-03-31 New Buy0.01%$52.04 - $61.48 $ 55.3-1%12300
Martin Whitman 2013-01-31 Add 19.31%0.89%$51.15 - $59.62 $ 55.33%2200889
Tweedy Browne 2012-12-31 Add 144.84%3.37%$51.15 - $62.81 $ 55.3-1%3737500
David Dreman 2012-12-31 Reduce -79.8%0.39%$51.15 - $62.81 $ 55.3-1%66146
Jean-Marie Eveillard 2012-12-31 Add 25.73%0.2%$51.15 - $62.81 $ 55.3-1%5326710
Martin Whitman 2012-10-31 Add 63.92%1.82%$55.41 - $63.49 $ 55.3-8%1844659
David Dreman 2012-09-30 Reduce -30.79%0.2%$54.67 - $63.45 $ 55.3-6%327449
Martin Whitman 2012-07-31 Add 117.19%1.46%$54.5 - $68.32 $ 55.3-7%1125344
Daniel Loeb 2012-06-30 Sold Out 1.8%$54.5 - $72 $ 55.3-12%0
Jean-Marie Eveillard 2012-06-30 Add 275285%0.94%$54.5 - $72 $ 55.3-12%4185849
Premium More recent guru trades are included for Premium Members only!!
» Financial Charts

Peter Lynch Chart

Guru Investment Theses on Devon Energy Corp

Third Avenue Management Comments on Devon Energy Corp. - Oct 02, 2012

During the most recent quarter, the Fund exited its small position in Cenovus Common, allocating the capital to Devon Common (DVN), which appears to be much more attractively valued. The Fund initiated its position in Devon Common in January 2012, and the investment has been discussed in each of the last two shareholder letters. Devon's common stock price has been falling recently, owing primarily to weakness in commodity prices. In Devon's recently reported second quarter, oil, natural gas and natural gas liquids prices fell 19%, 54% and 26%, respectively, compared to a year ago. Nevertheless, the company reported a profitable and cash flow positive quarter (including proceeds from the closing of its previously announced joint venture with Sinopec). The company also announced a new $1.4 billion joint venture with Sumitomo Corporation, in which Sumitomo will pay $340 million in cash upon closing and fund 70% of Devon's future capital requirements for a 30% interest in 650,000 acres (no proved reserves) in two oil shale developments in Texas. Devon will continue to operate the properties and retain a 70% ownership interest. The transaction appears to be very attractive for Devon, as Sumitomo is effectively paying up for Devon's expertise by funding most of the capital.

Despite the pressure from falling commodity prices, Devon continues to have a very strong financial position, with $7 billion of cash compared to $10.6 billion of debt. Net debt totals only 14% of capital and $0.20 per thousand cubic feet equivalent ("mcfe") of proved reserves. Devon added to its hedges during the quarter and now has 65% of its gas production hedged for the rest of the year at $3.76 per mcfe (versus the current price of about $3) and 85% of its oil hedged at $97 (versus the current price of about $90). The valuation seems to be very compelling at about $9 per barrel of oil equivalent ("BOE") of proved reserves. In 2009 and 2010, Devon exited its less attractive Gulf of Mexico and international operations at a price of about $45 per barrel of proved reserves. More recently, Nexen, a Canadian E&P company, agreed to be sold to CNOOC for about $19 per BOE of proved reserves. Although Nexen's reserves are more heavily weighted to oil, Devon's assets carry less development risk as evidenced by its much lower percentage of proved undeveloped ("PUD") reserves (26% versus 53%).

From Third Avenue's third-quarter letter, by Ian Lapey, portfolio manager.

Check out Third Avenue Management latest stock trades

Bill Nygren's Oakmark Comments on Devon Energy - Jul 10, 2012

From Oakmark's second-quarter 2012 letter:

Devon Energy (DVN) is another exploration and production company, the stock of which has suffered because of declining commodity prices. We find it interesting that the financial press often characterizes Devon as a natural gas “play,” even though most of the company’s revenues come from liquids. Over the past three years, the stock has declined in price despite Devon’s significant growth in proved and probable reserves, as well as material debt reduction. Devon’s management understands capital allocation to be a paramount responsibility and has demonstrated this through savvy asset sales and purchases, and by accessing foreign capital through joint ventures.
Check out Bill Nygren latest stock trades

Bill Nygren Comments on Devon Energy - Jul 10, 2012

From Bill Nygren's second-quarter letter:

Devon Energy (DVN-$58)
Devon (DVN) is a North American oil and natural gas exploration and production company. The stock has been a poor performer, down from a high of $94 last year and an all-time high of $127 in 2008. With nearly 60% of its reserves in natural gas, Devon is widely perceived to be a gas company, and its stock price has traded down with natural gas prices. However, 80% of Devon’s revenues and over 80% of our business value estimate stem from the company’s oil and liquids business. Based on our estimates, the stock is now trading at just over half of its 2013 asset value. And we are not assuming any oil price recovery in our numbers. An additional reason we are attracted to Devon is the way management allocates capital. It seems that most oil and gas managements have a “bigger is better” mentality. Devon instead focuses on per-share value. In the past two years, Devon has used excess cash to reduce its share base by 10%. Selling at less than 10x expected earnings, at half of estimated asset value, and with a history of repurchasing its shares, we are pleased to add Devon to our portfolio.
Check out Bill Nygren latest stock trades

Top Ranked Articles about Devon Energy Corp

Stocks Gurus Are Buying in Out-of-Favor Industries – Oil & Gas Edition
March 8, 2013
Bill Nygren,George Soros, T Boone Pickens - Stocks Gurus Are Buying In Out-of-Favor Industries – Oil & Gas Edition
For most value investors, an out-of-favor industry is a bargain bin containing potential hidden gems. This mentality is what sent Bruce Berkowitz swashbuckling into financials on the tail of the financial crisis, and prompted Donald Yacktman to buy good “old tech” companies in 2011 when the market considered them a lost cause, for example. Read more...
Third Avenue Management Comments on Devon Energy Corp.
October 2, 2012
During the most recent quarter, the Fund exited its small position in Cenovus Common, allocating the capital to Devon Common (DVN), which appears to be much more attractively valued. The Fund initiated its position in Devon Common in January 2012, and the investment has been discussed in each of the last two shareholder letters. Devon's common stock price has been falling recently, owing primarily to weakness in commodity prices. In Devon's recently reported second quarter, oil, natural gas and natural gas liquids prices fell 19%, 54% and 26%, respectively, compared to a year ago. Nevertheless, the company reported a profitable and cash flow positive quarter (including proceeds from the closing of its previously announced joint venture with Sinopec). The company also announced a new $1.4 billion joint venture with Sumitomo Corporation, in which Sumitomo will pay $340 million in cash upon closing and fund 70% of Devon's future capital requirements for a 30% interest in 650,000 acres (no proved reserves) in two oil shale developments in Texas. Devon will continue to operate the properties and retain a 70% ownership interest. The transaction appears to be very attractive for Devon, as Read more...
Third Avenue Value Fund Buys Devon Energy, Symantec, Stanley Furniture, Sells Forest City, Cenovus Energy
September 28, 2012
Third Avenue Value Fund just reported its portfolio as of July 31. The fund was founded by legendary value investor Marty Whitman. It have been managed by his protégé Ian Lapey since last year. Read more...
Bill Nygren of Oakmark Funds Buys 3 New Stocks
September 6, 2012
Bill Nygren - Bill Nygren Of Oakmark Funds Buys 3 New Stocks
Bill Nygren is portfolio manager at the Oakmark Funds, a firm with $6.1 billion in assets under management that has returned 12.29% to investors since inception. Nygren likes to buy stocks at a significant discount to their intrinsic values and is a big fan of share repurchases as opposed to stocks with above-average yields, as those currently tend to be fully priced. He also believes that largest businesses are tending to be priced at a discount today. Read more...
Valuation of Martin Whitman’s Four New Buys
July 10, 2012
Martin Whitman - Valuation Of Martin Whitman’s Four New Buys
Martin Whitman is in the process of handing the reigns over to his successor at $3.8 billion Third Avenue Management, Ian Lapey, who was promoted to sole portfolio manager on March 1, 2012. Whitman remains as chairman of the board of trustees and mentors the investor team. Year to date, the fund has returned 12.68%, recovering from its 11.68% downturn in the last year. Read more...
Bill Nygren's Oakmark Comments on Devon Energy
July 10, 2012
From Oakmark's second-quarter 2012 letter: Read more...
Bill Nygren Comments on Devon Energy
July 10, 2012
From Bill Nygren's second-quarter letter: Read more...
Third Avenue Value Fund Buys Devon Energy, Comeric, Applied Materials, Alleghany, White Mountains Insurance
July 10, 2012
Martin Whitman - Third Avenue Value Fund Buys Devon Energy, Comeric, Applied Materials, Alleghany, White Mountains Insurance
Third Avenue Value Fund was founded by legendary value investor Marty Whitman, who has recently retired. The fund is now managed by his successor Ian Lapey. Ian Lapey is also co-manager of the Third Avenue Value Fund UCITS for offshore investors. He joined Third Avenue in 2001. Ian Lapey has put his marks on the fund quickly. He initiated a few new positions that are mostly based in the U.S., while Marty Whitman put most of his assets in Hong Kong real estate companies. He initiated positions in oil and gas E&P, property & casualty insurance and high tech companies. In his shareholder letter, Ian Lapey detailed what he looks for in property & casualty insurance companies: Read more...
Third Avenue Management Comments on Devon Energy Corp
June 28, 2012
From Marty Whitman's second quarter 2012 letter: Read more...

Ratios

vs
industry		 vs
history
P/B 1.10
DVN's P/B is ranked higher than
79% of the 745 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.34 vs. DVN: 1.10 )
DVN' s 10-Year P/B Range
Min: 0.95   Max: 2.82
Current: 1.1
0.95
2.82
P/S 2.50
DVN's P/S is ranked higher than
77% of the 800 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 3.15 vs. DVN: 2.50 )
DVN' s 10-Year P/S Range
Min: 1.25   Max: 4.6
Current: 2.5
1.25
4.6
EV-to-EBIT 23.8
DVN's EV-to-EBIT is ranked lower than
65% of the 398 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 14.51 vs. DVN: 23.8 )
DVN' s 10-Year EV-to-EBIT Range
Min: 3.7   Max: 39.6
Current: 23.8
3.7
39.6
Shiller P/E 23.8
DVN's Shiller P/E is ranked lower than
100% of the Companies
in the Global Oil & Gas E&P industry.

( Industry Median: vs. DVN: 23.8 )
DVN' s 10-Year Shiller P/E Range
Min: 8.37   Max: 28.72
Current: 23.8
8.37
28.72

Dividend & Buy Back

vs
industry		 vs
history
Dividend Yield 1.48
DVN's Dividend Yield is ranked higher than
82% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.00 vs. DVN: 1.48 )
DVN' s 10-Year Dividend Yield Range
Min: 0.26   Max: 1.6
Current: 1.48
0.26
1.6
Dividend growth (3y) 5.7
DVN's Dividend growth (3y) is ranked higher than
98% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.00 vs. DVN: 5.7 )
DVN' s 10-Year Dividend growth (3y) Range
Min: 0   Max: 45.6
Current: 5.7
0
45.6
Yield on cost (5-Year) 1.91
DVN's Yield on cost (5-Year) is ranked higher than
85% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.00 vs. DVN: 1.91 )
DVN' s 10-Year Yield on cost (5-Year) Range
Min: 0.33   Max: 2.04
Current: 1.91
0.33
2.04
Share Buyback Rate 2
DVN's Share Buyback Rate is ranked higher than
100% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: -0.60 vs. DVN: 2 )
DVN' s 10-Year Share Buyback Rate Range
Min: 2.6   Max: -27
Current: 2

Valuation & Return

vs
industry		 vs
history
Price/Net Current Asset Value 21.6
DVN's Price/Net Current Asset Value is ranked higher than
75% of the 570 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 25.70 vs. DVN: 21.6 )
DVN' s 10-Year Price/Net Current Asset Value Range
Min: 13.1   Max: 39.1
Current: 21.6
13.1
39.1
Price/Tangible Book 1.5
DVN's Price/Tangible Book is ranked higher than
70% of the 696 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.40 vs. DVN: 1.5 )
DVN' s 10-Year Price/Tangible Book Range
Min: 1.4   Max: 6.5
Current: 1.5
1.4
6.5
Price/DCF (Projected) 3.7
DVN's Price/DCF (Projected) is ranked higher than
65% of the 190 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 1.80 vs. DVN: 3.7 )
DVN' s 10-Year Price/DCF (Projected) Range
Min: 1.4   Max: 3.4
Current: 3.7
1.4
3.4
Price/Median PS Value 1
DVN's Price/Median PS Value is ranked higher than
72% of the 662 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.90 vs. DVN: 1 )
DVN' s 10-Year Price/Median PS Value Range
Min: 0.7   Max: 1.6
Current: 1
0.7
1.6
Earnings Yield (Greenblatt) 4.20
DVN's Earnings Yield (Greenblatt) is ranked higher than
82% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.60 vs. DVN: 4.20 )
DVN' s 10-Year Earnings Yield (Greenblatt) Range
Min: 2.5   Max: 27.3
Current: 4.2
2.5
27.3
Forward Rate of Return (Yacktman) -3.04
DVN's Forward Rate of Return (Yacktman) is ranked higher than
66% of the 931 Companies
in the Global Oil & Gas E&P industry.

( Industry Median: 0.00 vs. DVN: -3.04 )
DVN' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -2.2   Max: 47.6
Current: -3.04
-2.2
47.6

Business Description

Devon Energy Corporation is a Delaware corporation formed in 1971. The Company is an independent energy company engaged mainly in the exploration, development and production of oil, natural gas and NGLs. The Company's operations are concentrated in various North American onshore areas in the U.S. and Canada. It also own natural gas pipelines, plants and treatment facilities in many of its producing areas, making it one of North America's processors of natural gas. Its marketing and midstream revenues are mainly generated by: selling NGLs that are either extracted from the gas streams processed by its plants or purchased from third parties for marketing, and selling or gathering gas that moves through its transport pipelines and unrelated third-party pipelines. The Company's marketing and midstream costs and expenses are mainly incurred from: purchasing the gas streams entering its transport pipelines and plants; purchasing fuel needed to operate its plants, compressors and related pipeline facilities; purchasing third-party NGLs; operating its plants, gathering systems and related facilities; and transporting products on unrelated third-party pipelines. The Company's oil and gas operations are subject to various federal, state, provincial, tribal and local laws and regulations. Its operations also are subject to conservation regulations, including the regulation of the size of drilling and spacing units or proration units; the number of wells that may be drilled in a unit; the rate of production allowable from oil and gas wells; and the unitization or pooling of oil and gas properties.
Company Website
SEC Reports
Industry: Oil & Gas E&P
Compare:OJSCY, APC, APA, HRTPY, SGTZY
Traded in other countries:DY6.Germany
» More Articles for DVN

Headlines

Articles On GuruFocus.com
Weekly 3-Year Low Highlights: VALE, FCX, DVN, TCK Apr 16 2013 
Weekly 3-Year Low Highlights: VALE, FCX, DVN, TCK Apr 16 2013 
comment on DVN Mar 17 2013 
Out-of-Favor Industry Stocks and the Gurus That Love Them – Oil & Gas Edition Mar 08 2013 
comment on DVN Feb 09 2013 
Guru Stocks at 52-Week Lows: VOD, TEVA, NEM, DVN, SE Dec 24 2012 
Guru Stocks at 52-Week Lows: VOD, TEVA, NEM, DVN, SE Dec 23 2012 
Energy Tycoon, T. Boone Pickens’ Q3 Updates: Three New Buys Are Halliburton, Consol Energy and Arc Nov 15 2012 
Martin Whitman’s Third Avenue Buys Stanley Furniture, Symantec, Adds to Devon and Allegheny Oct 02 2012 
Third Avenue Management Comments on Devon Energy Corp. Oct 02 2012 

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