Is Devon Energy Stock a Buy?
Even as the world looks to transition away from oil, reliance on this traditional energy source hasn't gone away. And companies like Devon Energy (NYSE: DVN) are still hard at work looking for more. The Oklahoma-based business focuses on oil and natural gas exploration in the U.S.
The past 12 months haven't been good for Devon Energy's stock, however, which is down over 22%, compared to the S&P 500 energy sector's 15% gains during that span. Much of that can be attributed to falling oil prices that have hurt Devon Energy's free cash flow and investor payouts.
Recent reversals from 2022 may cause investors to wonder if the company is still a buy, and I believe the answer is yes. Let's dig in to see why.
Source Fool.com
