Devon Stock News

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Upgrades Barclays upgraded the previous rating for Equitrans Midstream Corp (NYSE:ETRN) from Underweight to Equal-Weight. Equitrans Midstream earned $0.07 in the fourth quarter, compared to $0.31 in

NEW YORK , March 2, 2022 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for ROST, OXY, DVN, HES, and TSLA. … Full story available on Benzinga.com

Benchmark Research downgraded Devon (DVN), EOG (EOG) and Marathon (MRO) to hold ahead of the market open Wednesday, indicating valuations reflect $85-$90 oil (USO)

White House Quietly Calls On US Oil Companies To Increase Production Authored by Julianne Geiger via OilPrice.com, Short of an official request, the White House is now encouraging U.S. drillers to produce more crude . The White House has received a lot of pushback in recent days for not tapping what many see as at least a partial solution to the headache that is high oil prices - U.S. shale. In a move that likely angered his environment-conscious base, the White House has issued a muted request for U.S. oil companies to increase crude oil production in the wake of high crude oil and gasoline prices. Though words are different than deeds—and President Joe Biden’s deeds have been decisively anti-fossil fuel expansion—a White House official told U.S. oil companies on Tuesday that they could increase production if they want. “Prices are quite high, the price signal is strong. If folks want to produce more, they can and they should,” White House National Economic Council Deputy Director Bharat Ramamurti said in an interview today.

Devon Energy Corporation (NYSE:DVN) operates as an independent energy company. Elite hedge funds are bullish on the stock.

Devon Energy Corporation found using ticker (DVN) now have 31 analysts in total covering the stock. The consensus rating is ''Buy''. The range between the high target price and low target price is between 70 and 41 with a mean TP of 57.73. Given that the stocks previous close was at 55.2 this would imply there is a potential upside of 4.6%. The 50 day MA is 48.89 while the 200 day moving average is 36.88. The market cap for the company is $39,553m. Company Website: https://www.devonenergy.com [stock_market_widget type="chart" template="basic" color="green" assets=DVN" range="6mo" interval="1d" axes="true" cursor="true" api="yf"] The potential market cap would be $41,366m based on the market concensus. Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates approximately 5,134 gross wells. Devon Energy Corporation was incorporated in 1971 and is headquartered in Oklahoma City, Oklahoma.

Devon Energy (DVN) CEO Rick Muncrief tells Bloomberg he is "mystified" that President Biden has not reached out to discuss raising oil production to help contain surging gasoline prices…

(Bloomberg) -- If oil prices rise another $25 a barrel, it’s going to start weighing down consumption, according to the top executive at shale explorer Devon Energy Corp.

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NEW YORK, United States: As commodity prices soar, the Ukraine crisis has prompted demands from petroleum lobbies for a reboot of US energy policy to promote domestic oil and gas production. But recent history suggests Wall Street may be an even bigger barrier than Washington to increased exploration and production. As oil prices have risen over the last year — including Thursday''s brief surge above $100 a barrel — companies ranging from giants like Chevron to mid-sized players, such as Devon Energy, have chosen to only lift capital investment modestly. That approach has reflected the clear preference within the investment community for producers to steer extra cash to debt reduction and shareholder givebacks, while also ramping up low-carbon investment initiatives. Companies have also been cautious in light of the ongoing Covid-19 pandemic and uncertainty over the recovery in energy demand. Peter McNally, analyst at Third Bridge, predicted companies would not rush to shift strategies over the latest spike in commodity prices. "Everyone has been telling these companies not to drill so much, whether it''s the shareholders, (socially minded) investors or President (Joe) Biden," he said. "The industry has twice been at price points like this over the last year and it hasn''t ended well." Dan Pickering of Houston-based Pickering Energy Partners thinks the political and investor tone toward energy could become "less adversarial and more supportive" in light of Ukraine. "Climate goals won''t go away, but those long-term initiatives will wind up more balanced against short-term necessities," he said.

Occidental's (OXY) fourth-quarter earnings are better than expected. OXY is poised to gain from strong production from domestic assets.