Devon Energy Corporation
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Devon Energy Corporation is an independent energy company, primarily engages in the exploration, development, production of oil and natural gas in the United States and Canada. It operates approximately 19,000 wells. The company also offers midstream energy services, including gathering, transmission, processing, fractionation, and marketing to producers of natural gas, crude oil, and condensate through its natural gas pipelines, plants, and treatment facilities. Devon Energy Corporation was founded in 1971 and is headquartered in Oklahoma City.I decide to buy stock from this company because this stock has gained 1.80% in the last trading day, rising from $37.20 to $37.87. The price has risen in 6 of the last 10 days and is up by 6.98% over the past 2 weeks. Devon Energy Corporation lies in the upper part of a wide and weak rising trend in the short term, and this will normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $38.28 will firstly indicate a stronger raising rate. Given the current short-term trend, the stock is expected to rise 4.08% during the next 3 months and, with 90% probability hold a price between $32.19 and $39.84 at the end of this period.

I believed that this stock will continue to increase in price because according to the latest news show that Devon is raising its 2018 guidance for U.S. oil production. With the production raise, the midpoint of the company’s guidance for 2018 U.S. oil production now represents an estimated growth rate of 16 percent compared to 2017, up from the previous guidance of 14 percent. The improved outlook is driven by a combination of improving well productivity in the Delaware and STACK and efficiency gains compressing cycle times with development projects.Besides, the company’s upstream revenue in the U.S. totalled $1.0 billion in the first quarter, a 36 percent improvement compared to the fourth quarter of 2017. Contributing factors to the strong revenue growth were higher commodity price realizations and growth in higher-margin, light-oil production. Devon’s midstream business generated operating profits of $277 million in the first quarter, increasing 42 percent year over year as this growth was driven by the company’s investment in EnLink Midstream. Intro1. Healthcare Property Investors Incorporation2. Key Corporation3. Devon Energy Corporation4. Nvidia Corporation Last. Marathon Oil CorporationHello Sir Iftikar, my name is Vernon Kua, now we would like to present you our chosen stock for our portfolio. Ou first stock

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Devon Energy Corporation And Improved Outlook. (June 2, 2021). Retrieved from https://www.freeessays.education/devon-energy-corporation-and-improved-outlook-essay/