Devon Energy: Oil And Gas Isn’t Dead Money

Summary:

  • Devon Energy Corporation investors suffered a recent bear market decline.
  • Underlying energy market volatility has caused some anxiety for oil and gas investors.
  • Devon’s recent acquisition and upgraded production outlook indicate its bullishness on the industry’s long-term growth prospects.
  • DVN’s robust capital return framework underpins its bullish investment thesis.
  • I argue why bearish sentiments on DVN have been overcooked and why the buying opportunity is timely. Read on.

Prairie Oil Pump Jacks Canada USA

mysticenergy

Devon Energy Corporation (NYSE:DVN) investors have endured a highly challenging four months, as DVN topped out in April 2024 just under the $55 level. It fell 25% through its August 2024 lows before dip-buyers returned to defend against further downside last week. As


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