Analysis: Wall Street Excited About ExxonMobil and Devon Energy Profit Forecasts for 2024-2027
ExxonMobil's Profit Growth Forecasts
ExxonMobil anticipates a 10% compound annual growth rate in net income over the next three years, driven by $60 per barrel oil price expectations. Management's focus on expanding margins and key assets is pivotal for meeting these targets.
Key Points:
- Morgan Stanley sets an overweight rating with a $145 price target
- Emphasis on strong presence in the energy value chain
Devon Energy Asset Quality and Production Outlook
Devon Energy showcases improved quality in assets and beats production estimates, with a forecasted $3.3 billion free cash flow in 2024. The company's valuation appeal and strategies like share buybacks offer a bright outlook for investors.
Key Highlights:
- Enhanced well productivity in Delaware Basin assets
- Projected revenue to increase as oil prices rise
Both ExxonMobil and Devon Energy present compelling cases for investors seeking growth in the energy sector.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.