LIVE
DVN
Devon Energy Corporation · Energy
$42.12
-15.23% this month
VERSUS
⟷
COMPARE
OXY
Occidental Petroleum Corporation · Energy
$51.82
-14.63% this month
Scoreboard verdict
Across AI score, momentum, valuation, upside, operating margin
DVN
4
OXY
1
Comparison scoreboard
DVN LEADS 4/5AI Score
DVN ✓41.9
OXY 28.0
1Y Return
DVN ✓+21.35%
OXY +12.70%
Fwd P/E
DVN ✓8.31
OXY 14.02
Target Up.
DVN ✓+35.05%
OXY +15.85%
Op. Margin
DVN 6.86%
OXY ✓17.72%
Metrics last refreshed: 6/20/2026
Quick take
DVN vs OXY Stock Comparison: AI Score, Valuation, Performance and Upside
Devon and Occidental are both US E&P companies with Permian Basin exposure, but Devon is a multi-basin pure-play E&P with the fixed-plus-variable dividend model while OXY is a more complex company with chemicals, carbon capture, and higher leverage. Devon's simpler, more focused model with the innovative dividend structure contrasts with OXY's diversification and Berkshire's backing.
DVN vs OXY is multi-basin E&P capital return innovation (Devon's fixed-plus-variable dividend model) versus larger-scale Permian E&P with integrated business complexity and Buffett endorsement (Occidental).
Live analysis · updated 6/20/2026
DVN holds the edge across 4 of 5 key metrics in this comparison. DVN leads on both 1-year return (+21.35%) and forward P/E (8.31x vs 14.02x for OXY), a relatively favorable combination of momentum and valuation. On fundamentals, DVN is growing revenue faster (-0.80%), while OXY maintains the higher operating margin (17.72%) — a classic growth-versus-profitability split. Analyst consensus implies meaningfully more upside for DVN (+35.05%) than for OXY (+15.85%).
Normalized 1Y performance
DVN
OXY
Recent returns
DVN
OXY
Analyst price targets & sentiment
DVN
Price target range
analyst mean$61.19
current price$42.12
+35.1% upside to analyst mean
OXY · 26 analysts
STRONG BUYHOLDSTRONG SELL
Hold (2.7/5.0)
Price target range
analyst low$38.00
analyst high$66.00
analyst mean$65.50
current price$51.82
+15.8% upside to analyst mean
Who should consider this stock?
DVN may suit investors who:
- →prefer the pioneer of fixed-plus-variable dividends that directly links oil cycle upside to quarterly shareholder payouts
- →value multi-basin E&P diversification across Delaware, Eagle Ford, Anadarko, and other US basins
- →want strong free cash flow focus with low leverage enabling both variable dividends and buybacks
- →are comfortable with variable dividend fluctuation tied to oil price and multi-basin capital allocation complexity
OXY may suit investors who:
- →prefer the Berkshire Hathaway endorsement as a valuation anchor in a commodity-price-sensitive sector
- →value OxyChem diversified earnings smoothing oil cycle volatility in consolidated financials
- →want exposure to 1PointFive carbon capture as a long-duration carbon policy option
- →are comfortable with higher leverage than Devon limiting near-term capital return while debt is reduced
Performance & AI score
| Metric | DVN | OXY |
|---|---|---|
| AI score | 41.9 | 28.0 |
| AI rank | #908 | #2449 |
| Latest close | $42.12 | $51.82 |
| 1M return | -15.23% | -14.63% |
| 6M return | +13.99% | +27.54% |
| 1Y return | +21.35% | +12.70% |
$10,000 invested — hypothetical growth (dividends reinvested)
How much would $10,000 be worth today if invested at the start of each period, with all dividends reinvested?
| Period | DVN | OXY |
|---|---|---|
| 1Y ago | $12.37K (+23.7%) started 2025-06-18 | $11.43K (+14.3%) started 2025-06-18 |
| 5Y ago | $23.19K (+131.9%) started 2021-06-21 | $19.12K (+91.2%) started 2021-06-21 |
| 10Y ago | $23.24K (+132.4%) started 2016-06-20 | $12.05K (+20.5%) started 2016-06-20 |
Hypothetical — past performance does not guarantee future results.
Valuation & upside potential
| Metric | DVN | OXY |
|---|---|---|
| Market cap | $52.26B | $56.24B |
| Trailing P/E | 12.62 | 76.41 |
| Forward P/E | 8.31 | 14.02 |
| Price/Sales | N/A | 1.52 |
| EV/Revenue | 2.19 | 3.69 |
| Analyst target | $61.19 | $65.50 |
| Target upside | +35.05% | +15.85% |
Growth, profitability & risk
| Metric | DVN | OXY |
|---|---|---|
| Revenue growth | -0.80% | -8.30% |
| Earnings growth | -75.30% | 315.60% |
| EPS growth | -75.30% | +315.60% |
| FCF margin | +10.00% | +14.36% |
| Operating margin | 6.86% | 17.72% |
| Profit margin | 14.17% | 22.42% |
| ROIC proxy | 15.18% | 4.05% |
| Return on equity | 15.18% | 4.05% |
| Dividend yield | 2.30% | 1.84% |
| Beta | 0.42 | 0.12 |
| Debt/equity | 56.40 | 41.99 |
| Current ratio | 1.01 | 1.21 |
| Quick ratio | 0.85 | 0.91 |
Drawdown & downside risk
Lower drawdown and smaller single-period drops generally indicate a smoother ride, though they do not guarantee lower future risk.
1Y risk snapshot
DVN max drawdown19.11%
OXY max drawdown21.77%
DVN max wkly drop11.80%
OXY max wkly drop12.01%
5Y risk snapshot
DVN max drawdown60.83%
OXY max drawdown50.77%
DVN max wkly drop28.67%
OXY max wkly drop26.59%
10Y risk snapshot
DVN max drawdown88.51%
OXY max drawdown88.39%
DVN max wkly drop53.93%
OXY max wkly drop63.08%
Performance metrics by period
| Period | Metric | DVN | OXY |
|---|---|---|---|
| 1Y | Growth | +23.74% | +14.27% |
| CAGR | +23.77% | +14.29% | |
| Sharpe ratio | 0.66 | 0.43 | |
| Max drawdown | 19.11% | 21.77% | |
| Max daily drop | 8.61% | 7.31% | |
| Max wkly drop | 11.80% | 12.01% | |
| 5Y | Growth | +82.58% | +83.21% |
| CAGR | +12.82% | +12.89% | |
| Sharpe ratio | 0.39 | 0.39 | |
| Max drawdown | 60.83% | 50.77% | |
| Max daily drop | 12.76% | 11.01% | |
| Max wkly drop | 28.67% | 26.59% | |
| 10Y | Growth | +57.10% | -12.41% |
| CAGR | +4.62% | -1.32% | |
| Sharpe ratio | 0.25 | 0.14 | |
| Max drawdown | 88.51% | 88.39% | |
| Max daily drop | 37.40% | 52.01% | |
| Max wkly drop | 53.93% | 63.08% |
Business comparison
| Category | DVN | OXY |
|---|---|---|
| Company | Devon Energy Corporation | Occidental Petroleum Corporation |
| Sector | Energy | Energy |
| Industry | N/A | Oil & Gas E&P |
| Core business | Devon Energy is a US-focused independent E&P company with operations across the Delaware Basin (Permian), Eagle Ford (Texas), Anadarko Basin (Oklahoma), Powder River Basin (Wyoming), and Williston Basin (North Dakota). Devon pioneered the fixed-plus-variable dividend model that links shareholder payouts directly to oil prices — now widely adopted by peers. The WPX Energy merger added Delaware Basin scale that became Devon's primary growth engine. | Occidental's Permian Basin operations, OxyChem chemicals, and 1PointFive carbon capture create a more complex business model than Devon's pure upstream E&P structure. OXY carries higher leverage than Devon and is focused on debt reduction as the primary capital allocation priority. Berkshire Hathaway's significant ownership position provides institutional validation. |
| Investor focus | Investors track Delaware Basin well productivity and production growth, free cash flow generation at various oil prices, fixed-plus-variable dividend payments as a capital return barometer, and balance sheet strength supporting the variable dividend model. | Investors track Permian production, net debt reduction, OxyChem margins, Berkshire ownership signal, and carbon capture commercialization timeline. |
DVN strengths
- →Pioneer of the fixed-plus-variable dividend model that directly passes oil cycle upside to shareholders through variable quarterly distributions
- →Delaware Basin (Permian) position provides premium well economics alongside multi-basin diversification reducing single-basin risk
- →Strong balance sheet with low leverage provides capacity to maintain the variable dividend even during oil price corrections
OXY strengths
- →Berkshire Hathaway ownership provides a floor valuation signal and long-term institutional shareholder alignment
- →OxyChem chemicals provide income diversification when oil prices compress E&P earnings margins
- →1PointFive carbon capture optionality is unique among E&P companies and could provide long-term value in carbon-priced scenarios
Risks to watch — DVN
- →Multi-basin portfolio requires capital allocation discipline — spreading investment across five basins risks under-optimizing any individual basin vs pure-play peers
- →Variable dividend will decline during oil price troughs, which can disappoint income investors expecting stable payouts
- →Delaware Basin competition for acreage from Diamondback, ConocoPhillips, and Pioneer/ExxonMobil is intense
Risks to watch — OXY
- →Higher financial leverage vs Devon limits OXY's capital return flexibility — debt reduction takes priority over variable dividends
- →Corporate complexity (E&P + chemicals + carbon capture) requires investors to underwrite multiple business lines simultaneously
- →OxyChem margin cycles are unrelated to oil prices and can cloud the E&P investment thesis
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