Environment

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.

Avatar

admin

About Author

You may also like

Environment

Putin attempts to undermine oil price cap as global energy markets fracture

  • December 28, 2022
Russia’s announcement of an oil export ban on countries that abide by a G-7 price cap is the latest sign
Environment

European natural gas prices return to pre-Ukraine war levels

  • December 29, 2022
A worker walks past gas pipes that connect a Floating Storage and Regasification Unit ship with the main land in