By David French and Arathy Somasekhar (Reuters) – U.S. oil and gas producer Devon Energy has lost bids to acquire at least three of its peers in the last 12 months because its shares were spurned as acquisition currency, according to people familiar with the negotiations. Devon missed out on the sector’s dealmaking boom by […]
The oil patch is undergoing a major consolidation wave. Several oil companies are acquiring smaller rivals in deals that will enhance their scale, reduce costs, and boost their free cash flow. Most of the industry’s largest players have now secured deals after ConocoPhillips agreed to buy Marathon Oil for $22.5 billion. Devon Energy (NYSE: DVN) […]
Georgie Campbell in July 2018 – Elli Birch/Alamy Georgie Campbell, the British professional horse rider, has died while competing at an equestrian event in Devon. Campbell, 37, suffered a fall from her horse during an international competition at Bicton on Sunday. Governing body British Eventing said in a statement: “It is with deepest regret that […]
I’m going to cut to the chase here. Devon Energy (NYSE: DVN) is a buy, provided you share management’s view on its capital allocation policy. That’s the key to the investment decision here, so here’s an outline of everything you need to know before buying the stock. Devon Energy’s capital allocation policy The company’s policy […]
Devon Energy (NYSE: DVN) has been a monster dividend stock in recent years. A few years ago, the oil company launched the industry’s first fixed-plus-variable dividend framework. It aimed to pay a fixed base dividend each quarter and up to 50% of its excess free cash flow in variable dividends. Higher oil prices in 2022 […]
(Reuters) – U.S. shale producer Devon Energy beat first-quarter profit estimates on Wednesday as higher production from Delaware basin helped it offset a decline in natural gas prices. The Oklahoma City-based company also raised its full-year 2024 production outlook by 2% to a range of 655,000 to 675,000 barrels of oil equivalent per day (boepd). […]
Devon Energy (NYSE: DVN) is an acquired taste — only appropriate for a certain kind of investor. That’s true despite a generous 4.6% dividend yield and a shareholder-friendly dividend and stock buyback policy. Here’s why this oil and natural gas company could be a buy or hold for some investors, but many more will likely […]
Get your money’s worth with this article, as it offers not one but three potential answers to Devon Energy‘s (NYSE: DVN) dividend question. While there’s no definitive answer, the prospect of significant returns to shareholders is clear. Devon Energy’s capital return to shareholders First, Devon Energy will pay at least $0.88 in dividends this year through […]
Devon Energy (NYSE: DVN) continues to find favor among the analyst community. Although analysts at Truist recently lowered their target price on the stock to $66 from $69, the target still implies a near 24% upside potential over the next 12 months or so. A different take Truist’s position is interesting and slightly different from […]
Most companies that pay dividends try to provide investors with a reliable income stream, setting a dividend that they believe can be sustained, if not grown, over time. Devon Energy (NYSE: DVN) has taken the exact opposite approach. So while the dividend yield on major quote services is listed as 4.9%, you shouldn’t count on […]
Energy companies have signed over $180 billion in merger agreements over the last six months. However, Devon Energy (NYSE: DVN) has gotten left out of the current merger wave washing over the oil patch. The oil producer has reportedly pursued several acquisition targets, only to lose to a competitor. Because of that, the company won’t […]
Devon Energy (NYSE: DVN) made a subtle change to its capital return strategy this year. The oil giant had paid out a gusher of dividends over the past couple of years by prioritizing paying variable dividends to return excess cash to shareholders. However, it plans to emphasize repurchasing its shares in 2024. Fueling the focus […]