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Devon Energy Corporation (DVN) live price

Discover historical price data for Devon Energy Corporation stocks and take your profit on price changes.

DVN

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63.24 USD 1.4437%
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Devon Energy is attractive to investors because it offers a reasonable rate of return and provides access to diversified oil and gas resources. The main benefits of buying Devon Energy stock are increased returns and passive dividend income.

Devon Energy Logo

Basic company information

Devon Energy is a leading energy company based in Oklahoma City, Oklahoma. It is one of the largest independent oil and natural gas producers in the United States, with operations in Oklahoma, Texas, New Mexico, Arkansas and other states. The company was founded in 1971 by John Nichols and has grown into a major player in the energy industry.

Devon Energy stock has been traded on the New York Stock Exchange since May 1991. Over the past few years, DVN asset quotes have been volatile. In March 2020, Devon Energy stock hit a 3-year high of over $27, and in May 2020, it approached $20.

Company activities

Devon Energy's core business is oil and natural gas exploration and production. The company has operations in the United States, Canada, Mexico, and other countries. Devon is involved in the exploration, production, marketing and transportation of oil and gas. The company also has interests in renewable energy such as wind, solar, and geothermal energy. In addition, Devon owns and operates a natural fuel processing business.

The company is committed to responsible operations and invests in technology to reduce its environmental impact. Devon has implemented best practices for drilling, natural gas gathering, and pipeline operations. It has also developed a rigorous environmental management system to ensure regulatory compliance and reduce the risk of environmental incidents.

The latest news on the stock price

As oil prices rise, the company has introduced an innovative dividend structure for Devon Energy stock that pays out up to 50% of free cash flow each quarter after a fixed base amount. As a result, the energy giant's dividend is steadily rising, and investors are getting more reward for investing in this industry leader.

Despite the decline in oil prices, quotes can quickly rise again due to the limited supply of OPEC and SPR reserves. This means that those who invest in shares of Devon Energy and other oil companies can get greater returns on their investments, providing investors with an attractive opportunity to generate additional cash flow.

✅ The benefits of investing in Devon Energy

  • Devon is a major player in the energy industry, and its commitment to responsible operations and corporate responsibility sets the energy giant apart from its competitors. With its diverse portfolio, innovative technology, and corporate initiatives, Devon Energy stock is well positioned to remain a sought-after asset among oil securities.
  • The corporation is actively expanding its operations around the world. This gives investors access to a growing and potentially lucrative market that can deliver long-term returns on Devon Energy stock.
  • The oil giant is committed to responsible operations, including reducing emissions and minimizing its impact on the environment. This commitment helps ensure that investing in Devon Energy stock is not only financially beneficial, but also ethically responsible.

❌ Disadvantages of investing in Devon Energy

  • As with any investment, investing in Devon Energy stock involves some risk. The price of oil and gas can be volatile, and the company is subject to changes in the global market. This volatility can lead to significant losses if the market moves against investors.
  • Devon Energy's stock is more of a long-term investment, and returns may not come immediately. Investors must be prepared for long-term commitments in order to get significant returns.
  • The corporation operates in many countries around the world and is subject to changes in the local and international political climate. This can lead to project delays and other disruptions that can have a negative impact on investors.

Financial performance

Devon's third-quarter results far exceeded expectations, with operating cash flow up 32% and production exceeding guidance by 2%. What's even more impressive is that capital expenditures were even 4% lower than budgeted.

The company's third-quarter 2022 report prompted analysts to adjust their target price for Devon stock from $83 to $87 per paper by year-end. The decline in value only encourages investors to buy DVN stock. Traders' interest in the asset is also growing due to the corporation's solid balance sheet and extensive drilling reserves.

Devon Energy stock price forecast for 2023, 2025

On December 16, Devon Energy's stock price was at $61 at the time of the forecast. Based on technical analysis, quotes in 2023 could fluctuate between $60 and $65. On a pessimistic outlook, DVN stock could sag to $54. By 2025, quotes have the potential to rise above $70.

Answers to Frequently Asked Questions

How has the COVID-19 pandemic affected Devon Energy's stock price?

Before the coronavirus pandemic began in March 2020, Devon Energy's stock was trading at $6.5. The asset's quotes then went into strong growth. 

How does an individual invest in DVN stock?

To start investing in Devon Energy stock, log into your personal DotBig account.

How has Devon's stock price changed over the past year?

From December 2021 to December 2022, Devon Energy shares went from $39 to $61.

Can DVN stock be traded automatically?

Yes, DotBig provides automated trading capabilities. You can use a social trading service, trading signals, and advisor programs.

What other companies from the energy sector can I choose to invest in?

Royal Dutch Shell, Kinder Morgan, EOG Resources, ChevronExxon Mobil are also in the energy sector.

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