Although rate cuts improve stock return prospects, being selective at these levels is vital. The momentum in information technology and communication sectors has carried the markets so far. But with valuations in some of the year-to-date leaders stretched, it's time to rotate into cheaper stocks. Remember, we are headed into the seasonally weak August to October period, with the U.S. elections likely to increase volatility. Devon Energy (DVN) One of the value sectors with many bargain stocks to buy now is e ...

Devon Energy & Grayson Mill M&A Devon Financials In the announced acquisition of Grayson Mill, management announced their new capital allocation plan with a 67% increase to share repurchases, raising the total from $3b to $5b. Management also suggested that Devon will seck to increase the dividend payout as a result of the increased production. In addition to this, Devon will be paying down $2.5b of debt throughout the next 24 months post-acquisition. Management will seek to maintain a leverage ratio under ...

Independent energy company Devon Energy Corporation (DVN) recently announced that it has inked a deal to acquire the Williston Basin business of Grayson Mill Energy for $5 billion. DVN will finance the transaction with $3.25 billion in cash and $1.75 billion in stocks. Following the necessary approval, this transaction is expected to be closed in the third quarter of 2024. Devon Energy has gained 2.7% in the year-to-date period compared with the industry's rally of 3%. This acquisition is expected to take t ...

After striking out several times, Devon Energy finally sealed a deal to increase its scale. Devon Energy (DVN -1.08%) has been trying to participate in the merger wave. Until recently, it had struck out several times as its targets agreed to deals with another rival. Devon Energy has agreed to buy Grayson Mill Energy's Williston Basin business for $5 billion. It's paying $3.25 billion in cash and $1.75 billion in stock. Devon Energy will fund the cash component with its strong balance sheet, which includes ...

Devon Energy Corporation (NYSE:DVN) Mergers & Aquisitions Conference Call July 8, 2024 8:30 AM ET Company Participants Scott Coody - Vice President of Investor Relations Rick Muncrief - President and Chief Executive Officer Clay Gaspar - Executive Vice President and Chief Operating Officer Jeff Ritenour - Executive Vice President and Chief Financial Officer David Harris - Executive Vice President and Chief Corporate Development Officer Conference Call Participants Nitin Kumar - Mizuho Securities Neal Dingma ...

Have you been searching for a stock that might be well-positioned to maintain its earnings-beat streak in its upcoming report? It is worth considering Devon Energy (DVN) , which belongs to the Zacks Oil and Gas - Exploration and Production - United States industry. When looking at the last two reports, this oil and gas exploration company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 3.45%, on average, in the last two quarters. For the most recent quarter ...

© 2022 Bloomberg Finance LP "The acquisition of Grayson Mill is an excellent strategic fit for Devon that allows us to efficiently expand our oil production and operating scale while capturing a meaningful runway of highly economic drilling inventory," Rick Muncrief, Devon's president and CEO, said in a release. "This transaction also creates immediate value within our financial framework by delivering sustainable accretion to earnings and free cash flow that will result in higher distributions to sharehold ...

OKLAHOMA CITY, July 08, 2024 (GLOBE NEWSWIRE) -- Devon Energy (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy in a transaction valued at $5 billion, consisting of $3.25 billion of cash and $1.75 billion of stock to the sellers. The transaction is subject to customary terms and conditions, including various purchase price adjustments, and is expected to close by the end of the third quarter of 2024, with an effecti ...

OKLAHOMA CITY, July 08, 2024 (GLOBE NEWSWIRE) -- Devon Energy (NYSE: DVN) announced today it has entered into a definitive purchase agreement to acquire the Williston Basin business of Grayson Mill Energy in a transaction valued at $5 billion, consisting of $3.25 billion of cash and $1.75 billion of stock to the sellers. The transaction is subject to customary terms and conditions, including various purchase price adjustments, and is expected to close by the end of the third quarter of 2024, with an effecti ...

Shares of Devon Energy (NYSE:DVN) started to consolidate in April, although petroleum prices have seen new upward momentum after OPEC+, led by Saudi Arabia and Russia, decided to curb supplies in a bid to support energy markets. As a result, Devon Energy faces improved earnings and free cash flow prospects. In an improving pricing environment, Devon Energy also has the potential to accelerate its capital returns and return more cash to shareholders in the coming quarters. With shares trading at 8.2X forward ...