Apr. 16 at 12:06 PM
$DVN DVN hedges some of its future production volume, as opposed to say that of OXY, which is more exposed to oil price fluctuations, so DVN won’t reap as much windfall as OXY for example, but they will reap some. We’ll get some insight during their ER in early May for Q1 2026, but will be more interested in their forecast for Q2 and beyond. Still assess it’s undervalued by at least 25-30%, possibly more once CTRA merger complete.