Devon Energy (NYSE: DVN) boosted its crude oil production by 8% in 2023 to a record level for the company. Its high-margin output helped fuel strong free cash flow, and the oil company returned the bulk of that money to shareholders via a gusher of dividends and share repurchases. Devon doesn’t expect to set another […]
(Reuters) -U.S. shale producer Devon Energy reported a fall in fourth-quarter profit on Tuesday, hurt by lower oil and gas prices and forecast a 2% impact in first-quarter production due to severe winter weather. Concerns over global demand weighed on commodity prices throughout the reported quarter, with U.S. natural gas prices declining by more than […]
Devon Energy (NYSE: DVN) launched a pioneering capital return framework following its transformational merger with WPX Energy in early 2021. It established the industry’s first fixed-plus-variable dividend policy. The framework featured a fixed base quarterly dividend and a variable dividend of up to 50% of its free cash flow. Several oil stocks have since taken […]
While the broader market continues to roar higher, the energy sector has taken a breather. In fact, it’s down 4.1% over the last year despite a 20% gain in the S&P 500. As oil and gas companies report their Q4 and full-year 2023 earnings, it’s becoming increasingly clear that the industry is fundamentally sound and […]
There’s currently a massive consolidation wave happening in the oil patch. Oil giants ExxonMobil, Chevron, and Occidental Petroleum have sealed deals to buy rivals. Meanwhile, several smaller producers have also made acquisitions. Devon Energy (NYSE: DVN) could be the next oil stock to make an acquisition. It has reportedly offered to buy Enerplus (NYSE: ERF). […]
(Bloomberg) — Devon Energy Corp., an Oklahoma City-based oil and gas company, is in talks to acquire Calgary-based driller Enerplus Corp., Reuters reported. Most Read from Bloomberg The companies have not come to an agreement, Reuters said, citing anonymous sources. It comes on the heels of a string of recent megadeals in the US oil […]
By David French (Reuters) – U.S. oil and gas producer Devon Energy has approached Enerplus, a peer with a market value of C$3.9 billion ($2.9 billion), with an acquisition offer, people familiar with the matter said on Thursday. Such a combination would continue the dealmaking spree seen in the North American oil patch in recent […]
WASHINGTON — The Supreme Court on Monday turned away an appeal brought by Devon Archer, a former business partner of Hunter Biden convicted for his role in defrauding the corporate arm of a Native American tribe. The court’s refusal to hear Archer’s case means the conviction remains in place and brings him closer to serving […]
Devon Energy (NYSE: DVN) is a trendsetter among dividend stocks. The oil producer launched that industry’s first fixed-plus-variable dividend framework in 2021 following its merger with WPX Energy. It pays a base dividend it can sustain at lower oil prices and a variable payout that fluctuates with its oil-fueled cash flows. After paying a gusher […]
It’s no secret that Devon Energy (NYSE: DVN) is a worthy candidate for income-seeking investors looking for exposure to the energy sector. Its trailing dividend yield is 6.3%, and if you annualize its last quarterly dividend of $0.77, its yield is even higher at 6.7%. That said, it’s not simply a case of just buying […]
23_04_27 A person in front of an oil rig looking at a computer _MF Dload Devon Energy (NYSE: DVN) has a very attractive dividend yield at 6.4%. That compares favorably to energy industry giants like ExxonMobil, which has a yield of just 3.7%. The average energy stock, meanwhile, has a yield of around 3.5%, using […]
21_12_18 A person putting their hand up to say stop _GettyImages-1270972650 Devon Energy (NYSE: DVN) is an onshore U.S. energy producer with a 6.5% dividend yield. That may lead income investors to consider the stock, given that the average energy stock, using Vanguard Energy Index ETF (NYSEMKT: VDE) as a proxy, has a yield of […]