AllAnalyst Report
logoMorningstarNovember 24, 2020

Devon Energy Corporation: Relaunching Coverage of Devon With $18 Fair Value Estimate

Symbols
DVN
Sector(s)
Energy
Rating
Current Price
$52.10
Fair Value
Economic Moat
Stewardship
Summary

Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2019, Devon's proven reserves totaled 589 million barrels of oil equi

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Analyst Profile

Dave Meats

Director
David Meats, CFA, is director of research, energy and utilities, for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc.Before joining Morningstar in 2014, Meats was an associate analyst for Raymond James. Previously, he worked as a geophysicist for Burren Energy, a London-based exploration and production firm, and Italian multinational oil and gas firm Eni SpA, which acquired Burren in 2008.Meats holds an undergraduate degree in physics from the University of Nottingham, a master's degree in petroleum geoscience from Royal Holloway, University of London, and a master's degree in business administration from the University of Chicago Booth School of Business. He also holds the Chartered Financial Analyst® designation.