This Top Oil Stock Aims to Get a $1 Billion Boost by the End of 2026

Devon Energy (NYSE: DVN) has become a cash-producing machine in recent years. The energy company has invested heavily to grow its scale across several key U.S. oil and gas production basins to reduce costs and enhance its ability to produce free cash flow. That strategy has paid big dividends for investors. It's producing significant excess free cash flow, to the tune of $3 billion last year, the bulk of which it's returning to shareholders through dividends and repurchases. It returned a total of $2 billion in 2024. However, Devon isn't resting on its laurels. The leading oil stock recently unveiled a bold goal to boost its pre-tax free cash flow by another $1 billion by the end of next year without the benefit of higher oil prices. Here's its strategy to squeeze more cash from its already lucrative oil business. Devon Energy recently revealed its value-enhancing business optimization plan. That strategy aims to deliver a $1 billion improvement in its pre-tax free cash flow by the end of next year. The company plans to undertake several initiatives to reach its goal. Those steps include: Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool