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Opinions The Panic-Proof Portfolio (Stockchase Research)
Devon Energy CorpDVNTOP PICKJun 28, 2022
Stockchase Research Editor: Michael O'Reilly DVN continues to be upgraded by several analysts. It has increased its dividend for 5 consecutive years and it is backed by a payout ratio under 70% of next years projected earnings. The dividend has a fixed and floating component, so the yield may not remain this high, so it is a bit of a call on forward energy prices -- a good inflation hedge. Recent reported earnings beat expectations and support an impressive 36% ROE. It trades at 11x earnings. We like that it has been increasing cash reserves, while retiring debt early and buying back shares. We recommend setting a stop loss at $43, looking to achieve $81.50 -- upside potential over 37%. Yield 8.65% (Analysts’ price target is $81.21)
$59.46
Stock price when the opinion was issued
$42.21
As of Jun 18, 2026. Market Open.
oilgas
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HOLD
The CEO will turn things around, but the free cash flow yield last year was 9% and below 3% this year. They need to fix that to attract share-buyers.
Bryn TalkingtonOwned
oilgas
HOLD
Generates decent variable income. Cash yield next year should be 12% with $80 oil, 16% if oil is $100. It's fine, but if you're an oil bull the way he is, this name doesn't fit the thesis.
Eric NuttallOwned
oilgas
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Premium contentPAST TOP PICK
(A Top Pick Sep 20/22, Down 7.3%)Stockchase Research Editor: Michael O'Reilly Our PAST TOP PICK with DVN has triggered its stop at $60. To remain disciplined, we recommend covering the position at this time. This will result in a net investment loss of 6%, when combined with our previous buy recommendation.
oilgas
