With Little Moves and Big Results, Devon Energy Is Succeeding in ExxonMobil and Chevron's Shadow
Devon Energy (NYSE: DVN) recently completed the acquisition of assets in the Williston Basin (in the northern central U.S.) worth roughly $5 billion. That's a tiny deal relative to the roughly $53 billion Hess (NYSE: HES) acquisition that Chevron (NYSE: CVX) is attempting to complete. That size difference helps explain why Devon Energy's business has been growing solidly even though the company operates in the shadows of industry giants Chevron and ExxonMobil (NYSE: XOM).ExxonMobil is a gigantic energy company, sporting a massive $470 billion market cap. Chevron isn't far behind with a market cap of over $260 billion. Devon Energy has a relatively tiny market cap of about $21 billion. Size, however, isn't the only difference here.Image source: Getty Images.Continue reading
Devon Energy (NYSE: DVN) recently completed the acquisition of assets in the Williston Basin (in the northern central U.S.) worth roughly $5 billion. That's a tiny deal relative to the roughly $53 billion Hess (NYSE: HES) acquisition that Chevron (NYSE: CVX) is attempting to complete. That size difference helps explain why Devon Energy's business has been growing solidly even though the company operates in the shadows of industry giants Chevron and ExxonMobil (NYSE: XOM).
ExxonMobil is a gigantic energy company, sporting a massive $470 billion market cap. Chevron isn't far behind with a market cap of over $260 billion. Devon Energy has a relatively tiny market cap of about $21 billion. Size, however, isn't the only difference here.
Image source: Getty Images.
