Devon Energy or Occidental Petroleum: Which Stock Has More Upside?
Even as Occidental Petroleum fell -15% during the past Month, its peer Devon Energy may be a better choice. Consistently evaluating alternatives is core to sound investment approach. Devon Energy (DVN) stock offers superior revenue growth across key periods, better profitability, and relatively lower valuation vs Occidental Petroleum (OXY) stock, suggesting you may be better off investing in DVN
- DVN’s quarterly revenue growth was 9.4%, vs. OXY’s -5.9%.
- In addition, its Last 12 Months revenue growth came in at 10.8%, ahead of OXY’s 0.1%.
- DVN leads on profitability over both periods – LTM margin of 24.3% and 3-year average of 30.5%.
No matter where one stock goes, your portfolio should stay on track. See how High Quality Portfolio can help you do that.
OXY engages in global oil and gas exploration, development, chemical manufacturing, and midstream operations including processing, transporting, and marketing energy products and basic chemicals. DVN independent energy company operating over 5,100 wells, founded in 1971 and based in Oklahoma City.
Valuation & Performance Overview
| OXY | DVN | Preferred | |
|---|---|---|---|
| Valuation | |||
| P/EBIT Ratio | 7.4 | 4.9 | DVN |
| Revenue Growth | |||
| Last Quarter | -5.9% | 9.4% | DVN |
| Last 12 Months | 0.1% | 10.8% | DVN |
| Last 3 Year Average | -6.8% | 0.3% | DVN |
| Operating Margins | |||
| Last 12 Months | 20.1% | 24.3% | DVN |
| Last 3 Year Average | 23.4% | 30.5% | DVN |
| Momentum | |||
| Last 3 Year Return | -40.5% | -51.7% | OXY |
Note: For “Last 3 Year Return” metric, preferred stock is one with higher returns unless the returns are too high (>300%) which creates risk of sell off.
See more revenue details: OXY Revenue Comparison | DVN Revenue Comparison
See more margin details: OXY Operating Income Comparison | DVN Operating Income Comparison
But do these numbers tell the full story? Read Buy or Sell DVN Stock to see if Devon Energy’s edge holds up under the hood or if Occidental Petroleum still has cards to play (see Buy or Sell OXY Stock).
Historical Market Performance
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Total [1] | Avg | Best | |
|---|---|---|---|---|---|---|---|---|---|
| Returns | |||||||||
| OXY Return | -57% | 68% | 119% | -4% | -16% | -13% | 13% | ||
| DVN Return | -35% | 196% | 51% | -22% | -25% | -0% | 74% | ||
| S&P 500 Return | 16% | 27% | -19% | 24% | 23% | 17% | 110% | <=== | |
| Monthly Win Rates [3] | |||||||||
| OXY Win Rate | 33% | 58% | 58% | 50% | 42% | 67% | 51% | ||
| DVN Win Rate | 42% | 92% | 58% | 42% | 25% | 67% | 54% | ||
| S&P 500 Win Rate | 58% | 75% | 42% | 67% | 75% | 67% | 64% | <=== | |
| Max Drawdowns [4] | |||||||||
| OXY Max Drawdown | -78% | 0% | 0% | -11% | -23% | -27% | -23% | ||
| DVN Max Drawdown | -79% | 0% | 0% | -27% | -30% | -18% | -26% | ||
| S&P 500 Max Drawdown | -31% | -1% | -25% | -1% | -2% | -15% | -12% | <=== | |
[1] Cumulative total returns since the beginning of 2020
[2] 2025 data is for the year up to 10/28/2025 (YTD)
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
No matter how good the numbers, stock investment is never a smooth ride. There is a risk you must factor in. Read DVN Dip Buyer Analyses and OXY Dip Buyer Analyses to see how these stocks have fallen and recovered in the past.