Devon announced it's selling its Eagle Ford assets to Crescent Energy for $4.2 billion. The 90,000 net acres in the basin represent roughly 4% of Devon's net production on a barrel of oil equivalent basis, and a similar proportion of Devon's total net acres, by our estimates.
Devon enjoys ideally located acreage in core portions of the basins it operates in. Attractive acreage translates to above-average well performance and peer-leading supply costs.
After incorporating sunk costs from leaseholds, acquisitions, exploration, and infrastructure, Devon's capital base inflates to a level that could threaten excess returns.
|
Metric
|
DVN
|
EOG
|
OXY
|
|---|---|---|---|
Price/Earnings (Normalized) | 10.79 | 11.01 | 14.08 |
Price/Book Value | 1.33 | 2.44 | 1.80 |
Price/Sales | 1.72 | 2.99 | 2.79 |
Price/Cash Flow | 4.22 | 6.08 | 4.69 |
|
Metric
|
DVN
|
EOG
|
OXY
|
|---|---|---|---|
Quick Ratio | 0.59 | 1.58 | 1.04 |
Current Ratio | 0.72 | 1.85 | 1.41 |
Interest Coverage | 9.18 | 32.77 | 5.89 |
|
Metric
|
DVN
|
EOG
|
OXY
|
|---|---|---|---|
Return on Assets (Normalized) | 9.06% | 14.43% | 4.72% |
Return on Equity (Normalized) | 17.36% | 24.51% | 13.23% |
Return on Invested Capital (Normalized) | 13.09% | 19.77% | 7.57% |
|
1-Day Chart
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Name
|
Price
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
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Market Cap
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United States