Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Devon Energy's third quarter 2024 results present a mixed picture, with key operational achievements alongside areas needing attention.</li><li>On the positive side, Devon recorded strong production numbers, achieving an all-time quarterly high of 728,000 barrels of oil equivalent per day.</li><li>This figure reflects a 12% year-over-year growth on a production-per-share basis, surpassing guidance for the current year and resulting in upward revisions to the company's full-year production assumptions.</li></ul>

Devon Energy's third quarter 2024 results present a mixed picture, with key operational achievements alongside areas needing attention.On the positive side, Devon recorded strong production numbers, achieving an all-time quarterly high of 728,000 barrels of oil equivalent per day.This figure reflects a 12% year-over-year growth on a production-per-share basis, surpassing guidance for the current year and resulting in upward revisions to the company's full-year production assumptions.

Devon Energy: Expansion & Resource Optimization in the Williston Basin Driving Our Optimism! - Major Drivers

<ul><li>Devon Energy's second quarter of 2024 showcased a robust performance rooted in strategic operating decisions, particularly focused in the Delaware Basin, demonstrating the company's resilient operational framework and potential growth avenues despite some challenges.</li><li>Record oil production and prudent cost management underpinned the positive aspects of Devon's recent performance.</li><li>However, as the company scales operations and continues to invest in acquisitions like the Grayson Mill, there are considerations about the capital allocation strategy and potential impacts on financials that investors should evaluate.</li></ul>

Devon Energy's second quarter of 2024 showcased a robust performance rooted in strategic operating decisions, particularly focused in the Delaware Basin, demonstrating the company's resilient operational framework and potential growth avenues despite some challenges.Record oil production and prudent cost management underpinned the positive aspects of Devon's recent performance.However, as the company scales operations and continues to invest in acquisitions like the Grayson Mill, there are considerations about the capital allocation strategy and potential impacts on financials that investors should evaluate.

Devon Energy Corporation: Refracturing Operations in Key Shale Plays Catapulting Their Growth! - Major Drivers

<ul><li>Devon Energy's Q1 2024 results exceeded operational and financial targets, setting a strong foundation for continued progress throughout the year.</li><li>The company delivered results that surpassed its targets by a significant margin, including a production output 4% higher than expected, averaging 664,000 BOE per day.</li><li>This output increase was driven by three principal factors: excellent well productivity, improved cycle times across drilling and completion operations, and easing infrastructure constraints across Devon's Delaware Basin assets.</li></ul>

Devon Energy's Q1 2024 results exceeded operational and financial targets, setting a strong foundation for continued progress throughout the year.The company delivered results that surpassed its targets by a significant margin, including a production output 4% higher than expected, averaging 664,000 BOE per day.This output increase was driven by three principal factors: excellent well productivity, improved cycle times across drilling and completion operations, and easing infrastructure constraints across Devon's Delaware Basin assets.

Devon Energy Corporation: Leveraging Technology and Methodologies to Improve Extraction Efficiency! - Major Drivers

<ul><li>The fourth quarter earnings of Devon Energy showed promising indicators for the company's progress and future outlook.</li><li>The company highlighted four major themes in the update; their accomplishments in 2023, the positive projections for 2024 based on these successes, the valuable resources in their portfolio that underpin their growth, and the strategic priorities for allocating their free cash flow going forward.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

The fourth quarter earnings of Devon Energy showed promising indicators for the company's progress and future outlook.The company highlighted four major themes in the update; their accomplishments in 2023, the positive projections for 2024 based on these successes, the valuable resources in their portfolio that underpin their growth, and the strategic priorities for allocating their free cash flow going forward.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Devon Energy:  Enhancements In Bakken & Eagle Ford Resources & 5 Other Growth Drivers

<ul><li>Devon Energy Corporation delivered mixed results for the previous quarter, with revenues well below analyst expectations but managed earnings beat.</li><li>Their disciplined capital management during the quarter maintained reinvestment rates above 50% of cash flow, doubling free cash flow compared to the previous quarter.</li><li>We have added reasonable forecasts of the annualized income statement and cash flows and carried out a DCF valuation of the company using its Weighted Average Cost of Capital (WACC) to determine a forecasted share price.</li></ul>

Devon Energy Corporation delivered mixed results for the previous quarter, with revenues well below analyst expectations but managed earnings beat.Their disciplined capital management during the quarter maintained reinvestment rates above 50% of cash flow, doubling free cash flow compared to the previous quarter.We have added reasonable forecasts of the annualized income statement and cash flows and carried out a DCF valuation of the company using its Weighted Average Cost of Capital (WACC) to determine a forecasted share price.

Devon Energy Corporation: Reinvestment Strategy Paying Off – A Deep Dive Into Their Approach! - Major Drivers

United States

Devon Energy Corporation is an independent energy company that is involved primarily in oil and gas exploration, development and production, the transportation of oil, gas, and NGLs and the processing of natural gas. The Company also has marketing and midstream operations primarily in North America that include gas, crude oil and NGLs.

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Devon Energy (DVN US)

Devon Energy: Expansion & Resource Optimization in the Williston Basin Driving Our Optimism! - Major Drivers

Devon Energy's third quarter 2024 results present a mixed picture, with key operational achievements alongside areas needing attention. On the...

Baptista Research

Devon Energy Corporation: Refracturing Operations in Key Shale Plays Catapulting Their Growth! - Major Drivers

Devon Energy's second quarter of 2024 showcased a robust performance rooted in strategic operating decisions, particularly focused in the Delaware...

Baptista Research

Devon Energy Corporation: Leveraging Technology and Methodologies to Improve Extraction Efficiency! - Major Drivers

Devon Energy's Q1 2024 results exceeded operational and financial targets, setting a strong foundation for continued progress throughout the...

Baptista Research

Devon Energy: Enhancements In Bakken & Eagle Ford Resources & 5 Other Growth Drivers

The fourth quarter earnings of Devon Energy showed promising indicators for the company's progress and future outlook. The company highlighted...

Baptista Research

Devon Energy Corporation: Reinvestment Strategy Paying Off – A Deep Dive Into Their Approach! - Major Drivers

Devon Energy Corporation delivered mixed results for the previous quarter, with revenues well below analyst expectations but managed earnings...

Baptista Research

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