Devon Energy: Consolidation Creates Buying Opportunity (Rating Upgrade)
Devon Energy(DVN) Seeking Alpha·2024-07-08 11:02
ClaudioVentrellaShares 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 tra ...