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WTI Crude Oil Spot Price data by YCharts. To be fair, there will be points in time when holding on to Devon Energy's stock will be hard to do. But, historically speaking, oil prices have always ...
With an almost 28% decline in 2024, Devon Energy (NYSE: DVN) is a stock that fell out of favor with the market. The sell-off has arguably been overdone, as the price of oil spent much of last year ...
Devon Energy's (NYSE: DVN) stock price has fallen nearly 30% from its 52-week highs. That drop roughly tracks along with the price declines in West Texas Intermediate crude, a key U.S. oil benchmark.
Devon Energy just reported a strong operating quarter, but don't forget that oil and natural gas prices rule the day with this dividend stock.
The oil and gas company is following the right strategy to maximize value for investors.
Devon was founded in 1971 by John Nichols (1914-2008) and his son, J. Larry Nichols. [4] In 1988, the company became a public company via an initial public offering. [4]In October 2012, the company completed construction of its current headquarters, the 50-story Devon Energy Center in Oklahoma City, Oklahoma and closed its office in the Allen Center in Downtown Houston.
Here's a look at whether the current oil price affects the buy thesis for the oil stock. Crude oil pricing has a significant impact on the cash flows of oil producers like Devon Energy (NYSE: DVN).
For example, on the second-quarter earnings call, management argued that with a price of oil of $70, its free cash flow yield would be around 9% in 2024, based on the stock price of around $42.80.