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 ...

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 ...