Devon Stock News

APA Corp. has plenty of runway ahead

NEW YORK: 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. Palm posts biggest daily rise in 13 years 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 towards energy could become "less adversarial and more supportive" in light of Ukraine.

Russian President Vladimir Putin’s decision to send almost 200,000 troops into Ukraine as part of an invasion has sent the stock market into uncertain territory. Oil demand and prices collapsed in t

Devon Energy and Chevron have juicy dividend yields and attractive upside.

Devon Energy and Chevron have juicy dividend yields and attractive upside.

Devon Energy Corporation (NYSE:DVN) is an Oklahoma-based independent energy company.

U.S. stock futures fell sharply Thursday as Russia attacked Ukraine, causing global energy prices to jump and sending investors fleeing for the safety of fixed income assets. Futures for the Dow Jones Industrial Index were pounded 844 points, or 2.6%, to 32,222. Futures for the S&P 500 index fell 115 points, or 2.7%, to 4,106.75. Futures for the NASDAQ Composite Index plummeted 466 points, or 3.5%, to 13,041.50. Moscow launched the military action in Ukraine overnight Thursday. There were reports of explosions and missile strikes on several key Ukrainian cities including its capital, Kyiv. Russian President Vladimir Putin called the invasion “the demilitarization” of Ukraine and said Russia’s plans do not include the occupation of Ukrainian territories. Energy companies surged amid the rising prices. Devon Energy was up 5% and Chevron rose 4.2% in premarket trading. Bank stocks were among the big early losers, with Bank of America down 4% and Bank of New York Mellon slumping 6.3% in pre-market trading.

For now, the western reaction to the unfolding situation in Ukraine will likely be limited to economic sanctions. U.S

Nervous Markets Rebound As Ukraine Tensions Fade US equity futures - which on Tuesday tumbled into a technical correction, down 10% from January''s all time highs - rebounded led by tech companies as investor fears over the standoff in Ukraine eased following the limited initial Western sanctions against Russia. As of 7:15am, eminis pared some gains but were still up 0.7% or 28 points on the day; Nasdaq futures were up 0.9% and Dow futures were up 0.54%. The VIX remained elevated, last seen around 28 after trading above 30 yesterday. Treasuries extended declines after the yield curve flattened in the Wall Street session, with the 10Y yield rising to 1.97% after tumbling as low as 1.85% on Tuesday. Crude oil fluctuated, while gold dipped as haven demand eased. The dollar slipped and cryptos reversed some of their recent losses. Susannah Streeter, senior analyst at Hargreaves Lansdown, said there were signs of bargain hunting among traders, keen to snap up shares sensitive to the situation. But she warned the geopolitical tension could still escalate, while elevated oil and gas prices were boosting inflationary risks. The volatility which has hit stocks is set to remain as traders assess this latest attempt to slow down the march toward a full invasion, said Streeter.

Given Devon's desirable prospects of seeing material deleveraging whilst collecting a high dividend yield during 2022 that could reach upwards of 9%+, I believe Buy rating is appropriate.

NEW YORK , Feb. 22, 2022 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for MRO, TELL, F, DVN, and LBRT. Full story available on Benzinga.com

I believe the market has over-discounted the bad news and has left no room for any good news. This sets up for an emerging spate of optimism.

Higher cost of sales and operating expenses hurt Sunoco's (SUN) earnings in Q4.