DEVON ENERGY CORP/DE vs OCCIDENTAL PETROLEUM CORPORATION, two Oil & Gas stocks. A side-by-side on valuation, growth, margins, returns, and what each price is betting.
The margin comparison favors the diversified producer: Occidental nets 22.4% of revenue against Devon's 13.2%, its oil-weighted Permian-plus-chemicals mix out-earning Devon's shale book this cycle. Returns nearly tie on equity, 14.7% against 12.1%, Devon ahead, though Occidental's 5.9% on assets trails Devon's 7%. Both carry moderate debt, 0.61 and 0.39 turns, and pay near-2% dividends. The multiples sit close, 11.8 and 12.6 times, both cheap. Occidental yields 6.7% in free cash, Devon 11.2%. The pair prices two US producers, Devon pure shale, Occidental oil-plus-chemicals with acquisition debt; Devon converts more of its price to cash, Occidental nets the fatter margin, and the market values them within a turn as cheap oil-cycle plays.
Comparison updated 2026-07-11.
| Metric | DVN | OXY |
|---|---|---|
| Price | $42.18 | $49.98 |
| Market cap | $26.1B | $50.3B |
| Sector | Oil & Gas | Oil & Gas |
| Stage | Cyclical | Cyclical |
| Implied growth (priced in) | -0.4% | — |
| P/E | 11.8 | 12.6 |
| P/B | 1.69 | 1.27 |
| P/S | 1.52 | 2.36 |
| EV/EBITDA | 9.4 | 8.2 |
| Revenue growth | +2.6% | +4.5% |
| Net margin | 13.2% | 22.4% |
| Return on equity | 14.7% | 12.1% |
| Return on assets | 7.0% | 5.9% |
| FCF yield | 11.2% | 6.7% |
| Dividend yield | 1.6% | 1.9% |
| Debt / equity | 0.61 | 0.39 |
| Current ratio | 1.01 | 1.21 |
| Altman Z (solvency) | 6.97 | 6.73 |
| Piotroski F (quality) | 8 / 9 | 7 / 9 |
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The stronger value is highlighted per metric where one is strictly better on that single number; it is not an overall verdict on either company. For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.