The market expects Devon Energy (DVN) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. The earnings report, which is expected to be released on November 5, 2024, might help the stock move higher if these key numbers ...

I am focused on growth and dividend income. My personal strategy revolves around setting myself up for an easy retirement by creating a portfolio which focuses on compounding dividend income and growth. Dividends are an intricate part of my strategy as I have structured my portfolio to have monthly dividend income which grows through dividend reinvestment and yearly increases. Feel free to reach out to me on Seeking Alpha Analyst's Disclosure: I/we have a beneficial long position in the shares of XOM either ...

It's been a while since I last wrote about Devon Energy and I believe it's time to revisit it and provide an update. The oil I focus on a wide variety of stocks but I prefer to write about oil and gas companies at this time. That said, if I think there is a reason to write about it, then I enjoy studying new companies and learning about new opportunities. I am a graduate of Texas Christian University where I have obtained both my bachelors and my MBA. I am also a published author. You can find my book on Am ...

Investing in equal parts of these three dividend stocks should produce an average yield of 4.8% to help you generate passive income.When dividend-paying companies go on sale, their yields increase, which can make them juicy passive income opportunities. But a dividend is only as good as the company paying it; meaning if you're going to invest in a beaten-down dividend-paying company, it has to be able to overcome whatever challenges it is going through.United Parcel Service (UPS 0.06%) and Devon Energy (DVN ...

Devon Energy (DVN) closed the most recent trading day at $39.51, moving -1.64% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.92% for the day. At the same time, the Dow lost 0.96%, and the tech-heavy Nasdaq lost 1.6%.Shares of the oil and gas exploration company have depreciated by 2.05% over the course of the past month, outperforming the Oils-Energy sector's loss of 9.71% and lagging the S&P 500's gain of 2.68%.Market participants will be closely follo ...

Devon Energy (DVN) closed at $40.17 in the latest trading session, marking a +0.22% move from the prior day. This change outpaced the S&P 500's 0.05% loss on the day. At the same time, the Dow lost 0.02%, and the tech-heavy Nasdaq gained 0.18%.Shares of the oil and gas exploration company have depreciated by 2.53% over the course of the past month, outperforming the Oils-Energy sector's loss of 9.67% and lagging the S&P 500's gain of 2.76%.Analysts and investors alike will be keeping a close eye on the perf ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about Devon Energy (DVN) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.Devon Energy currently has an ...

OPEC's latest Oil Market Report sheds light on the shifting dynamics of the global energy sector. The closely watched report not only provides an updated forecast on demand growth but also dives into the complexities of supply constraints, geopolitical risks, and the ongoing transition toward cleaner energy. Despite a cautious tone, there are key opportunities in oil-focused investments, particularly as demand-supply imbalances create room for strategic gains. Investors interested in the sector could benefi ...

Devon Energy Corporation's (DVN) shares have gained 8.1% in a month, outperforming the S&P 500 index's return of 4% and the broader Zacks Oil and Energy sector's decline of 5.1%. While the one-month performance paints a positive picture for investors, looking at the last one-year performance is crucial for a fuller understanding. DVN's stock has declined 9.2% in the past year, suggesting it is on a gradual path to recovery. Another stock from the same industry, EQT Corporation (EQT) , registered a 14.4% dec ...

Core Insights - The U.S. rig count has increased slightly to 586, up from 585 the previous week, but down from 622 a year ago, indicating a slowdown in drilling activities [4] - The oil rig count rose to 481 from 479 week-over-week, but is significantly lower than the peak of 1,609 in October 2014 and down from 501 year-over-year [5] - The natural gas rig count decreased to 101 from 102, and is also down from 117 year-over-year, reflecting a long-term decline in natural gas exploration [6] Industry Overview - Baker Hughes' weekly rig count data, published since 1944, serves as a key indicator for energy service providers to assess the oil and gas industry's business environment [2] - The increase in the rig count may suggest a demand trajectory for oilfield services, although some analysts express concerns about the efficiency of shale producers and their land availability for drilling [4] Rig Count Details - Onshore rigs totaled 567, up from 566, while offshore rigs remained stable at 18 [5] - The vertical drilling rig count fell to 12 from 14, while horizontal/directional rigs increased to 574 from 571 [7] - The Permian Basin, the most prolific area for oil and gas in the U.S., maintained a rig count of 304, down from 311 year-over-year [8] Market Conditions - Current West Texas Intermediate (WTI) crude prices are around $70 per barrel, creating a favorable environment for exploration and production despite a moderation in drilling activity [9] - U.S. oil and gas companies benefit from lower breakeven prices, with most new wells remaining below current market levels, supporting profitability [9] Company Highlights - Devon Energy has expanded its operations through a $5 billion acquisition of Grayson Mill Energy's Williston Basin business, enhancing its oil production and drilling locations [11] - Diamondback Energy has reported improvements in well productivity in the Midland Basin, indicating potential for increased production volumes [12] - The recent Endeavor merger has expanded Diamondback Energy's footprint in the Permian Basin to approximately 838,000 net acres, with a breakeven oil price below $40 per barrel [13]