Devon Energy’s plunge after management fails to reassure investors makes us question our stake


Pipes carry water, steam and oil at Devon Energy Corp.’s 35,000 barrel per day Jackfish Projects plant, where Steam Assisted Gravity Drainage (SAGD) is used to extract bitumen from oil sands, near Conklin, Alberta, Canada.
Jimmy Jeong | Bloomberg | Getty Images

Shares of Club holding Devon Energy (DVN) fell sharply Wednesday, one day after delivering disappointing fourth quarter results, reducing its fixed-plus-variable dividend and barely buying back any stock. Forward guidance wasn’t that great either. It’s certainly a frustrating story for sharholders like us, and one that bares further scrutiny.

Articles You May Like

Sam Bankman-Fried paid over $40 million to bribe at least one official in China, DOJ alleges in new indictment
How Fanatics and MLB are planning to keep the trading card boom going
Trump’s ‘knees don’t buckle’ and he will not take a plea deal, says lawyer
Quick Charge Podcast: March 28, 2023
Stormy Daniels says Trump indictment ‘is going to cause violence and death’