If You Bought 1 Share of Devon Energy at Its IPO, Here's How Many Shares You Would Own Now

Company Overview - Devon Energy was founded in 1971 by John Nichols and his son Larry, starting with five people and no assets, and has grown into one of the largest oil and gas producers in the U.S. [1] - The company went public in 1988 on the American Stock Exchange, allowing it to use its stock for acquisitions over the years [2]. Mergers and Acquisitions - Devon Energy has made significant acquisitions, including PennzEnergy for $723.4 million in 1999, Mitchell Energy for$3.1 billion in 2001, and Ocean Energy for $3.5 billion in 2003 [2]. - The company sold off all its international operations and offshore positions to focus on a leading multibasin onshore position in the U.S., highlighted by a$12 billion all-stock merger with WPX Energy in 2021 [4]. Stock Performance - Devon's stock has increased over 1,000% since its IPO, translating to an annual growth rate of about 7% [5]. - The historical performance indicates that mergers, particularly those funded with stock, do not always yield favorable outcomes for shareholders [5].