M&G Plc and
BNP PARIBAS ASSET MANAGEMENT Holding S.A. have purchased substantial shares of
Devon Energy Co., amid mixed sentiments as shares were concurrently sold by
Concurrent Investment Advisors LLC and
US Bancorp DE. The
stock performance has outpaced competitors despite daily losses. The company has successfully attracted considerable investor attention and has declared an increased dividend surpassing Q1 2024 EPS estimates.
Devon has however been downgraded by StockNews.com and its price target lowered to $43.00 by
Sanford C. Bernstein. It emerges that Devon Energy is heavily dominated by institutional owners with 71% ownership of the shares. Insiders selling at Devon Energy includes
EVP Human Resources and Admin Tana Cashion. Devon Energy's acquisition of
Grayson Mill Energy's Williston Basin business in a $5B cash-and-stock deal is a significant development and its share-repurchase authorization has expanded by 67% to $5 Billion. Despite this, the stock did dip as market gained with some analysts adjusting their estimates of Devon Energy. The stock's outlook remains favourable.
Devon Energy Corporation DVN News Analytics from Mon, 01 Jan 2024 08:00:00 GMT to Sun, 21 Jul 2024 15:44:25 GMT -
Rating 3
- Innovation 4
- Information 7
- Rumor -3
