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 ...

The oil sector is witnessing significant fluctuations, creating opportunities for undervalued oil stocks. With Brent crude trading at around $77 a barrel and West Texas Intermediate at $73, market conditions are ripe for strategic investments. Companies such as Shell (NYSE:SHEL) are focusing on shareholder value, reducing costs, and maintaining strong dividends, which make them an obvious choice. However, there are better undervalued oil stocks for investors to consider. On the supply side, non-OPEC+ produc ...

It must be said, however, that Devon isn't peaches and cream. Yes, it has consistently beaten its bottom-line earnings targets in the past four quarters. Also, during the trailing 12 months (TTM), the company did post net income of $3.36 billion. However, in terms of quarterly earnings and revenue growth, Devon is presently down on a year-over-year basis. Financial technology (fintech) firms are booming and so, the Chinese market should be no different. Prospective investors may be encouraged with Qifu's pe ...

The oil and gas exploration company's stock has dropped by 1.06% in the past month, falling short of the OilsEnergy sector's loss of 0.69% and the S&P 500's gain of 2.83%. It is also important to note the recent changes to analyst estimates for Devon Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. In terms of valuation, Devon Energy is presently being ...

Investor Contacts Media Contact Scott Coody, 405-552-4735 Brooke Baum, 405-552-3448 Chris Carr, 405-228-2496 ABOUT DEVON ENERGY OKLAHOMA CITY, June 25, 2024 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today announced it will report second-quarter 2024 results on Tuesday, Aug. 6, after the close of U.S. financial markets. The earnings release and presentation for the second-quarter 2024 results will be available on the company's website at www.devonenergy.com. On Wednesday, Aug. 7, the company will ho ...

Investor Contacts Media Contact Scott Coody, 405-552-4735 Brooke Baum, 405-552-3448 Chris Carr, 405-228-2496 ABOUT DEVON ENERGY OKLAHOMA CITY, June 25, 2024 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today announced it will report second-quarter 2024 results on Tuesday, Aug. 6, after the close of U.S. financial markets. The earnings release and presentation for the second-quarter 2024 results will be available on the company's website at www.devonenergy.com. On Wednesday, Aug. 7, the company will ho ...

Devon Energy (DVN) ended the recent trading session at $45.65, demonstrating a -0.24% swing from the preceding day's closing price. This change lagged the S&P 500's 0.25% gain on the day. Meanwhile, the Dow gained 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%. For the full year, the Zacks Consensus Estimates project earnings of $5.24 per share and a revenue of $15.38 billion, demonstrating changes of -8.23% and +0.79%, respectively, from the preceding year. The Zacks Rank system, running from #1 (S ...

We previously covered Devon Energy (NYSE:DVN) in March 2024, discussing its inherent undervaluation compared to its peers, despite the healthier balance sheet, raised fixed dividends, and sustained share retirement. With a prospective market re-rating likely to bring forth excellent upside potential as the elevated crude oil prices triggered higher variable dividends, we believed that the stock remained a compelling Buy for commodity investors. Since then, DVN has traded sideways at -0.4% as the wide market ...

The the stock of oil and gas exploration company has fallen by 5.1% in the past month, lagging the Oils-Energy sector's loss of 4.55% and the S&P 500's gain of 3.11%. Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Devon Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook. With respect t ...