NYSE:DVNOil and Gas
Devon Energy (DVN) Stock Retreat Deepens As Synergy Doubts Persist
Devon Energy dropped about 4.5% today, even though the quarter delivered the kind of headline that usually gets oil investors leaning in. Earnings per share came in at a little over US$2, supported by US$6.6b of revenue and an increase in total oil equivalent production to roughly 124 million barrels of oil equivalent. The stock had already drifted over the past three months, so this pullback reflects the market trying to reconcile a strong profit result with questions about how sustainable...