Devon Energy (NYSE:DVN) has just reported earnings, and the results are excellent. The company beat analysts' expectations on normalized earnings per share by $0.27 and revenue expectations by 14%. With many considering this stock to be undervalued on the market, do these numbers mean it's time to get in on Devon's upside? In this video, Motley Fool energy analysts Joel South and Taylor Muckerman discuss Devon Energy and tell investors how the company is hitting several of its goals, including a big focus on growth in its high-margin oil plays and major reductions in the company's debt.

Joel South and Taylor Muckerman have no position in any stocks mentioned. The Motley Fool owns shares of Devon Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.