Devon Sets Sights on High-Growth U.S. Oil Assets With Planned Sale of Oil Sands and Barnett
We're holding steady on our $30 fair value estimate for no-moat Devon Energy following the release of the company's fourth-quarter and full-year results. Devon generated total production volumes of 532 thousand barrels of oil equivalent per day in the quarter, slightly above the midpoint of management's guidance. Production was up 2% sequentially and was dented by the decision to shut in a portion of Canadian production because of adverse pricing conditions.In addition to quarterly results, Dev...
Devon Energy is an independent energy company engaged primarily in the exploration, development and production of oil, natural gas and natural gas liquids. The company's operations are concentrated in various onshore areas in United States. The company's areas of operation include Delaware Basin, Eagle Ford, Powder River Basin and the STACK development, located primarily in Oklahoma's Canadian, Kingfisher and Blaine counties.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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