Devon Energy stock falls 2.77% and outperforms some rivals
Updated
Updated · MarketWatch · May 7
Devon Energy stock falls 2.77% and outperforms some rivals
10 articles · Updated · MarketWatch · May 7
Shares closed at $45.31 on Thursday, their third straight decline, as the S&P 500 fell 0.38% and the Dow dropped 0.63%.
Devon still edged EOG Resources, down 2.82%, and Diamondback Energy, down 2.37%, but lagged Occidental Petroleum, which fell 2.14%.
The stock finished 14.04% below its 52-week high of $52.71 reached on 30 March, while trading volume rose to 26.4 million against a 50-day average of 15.7 million.
Devon Energy just boosted dividends after its huge merger. Why is its stock falling while oil prices are soaring?
Is Devon's new $8 billion buyback a smart move or a missed opportunity to invest in future energy supply?
Amid a U.S.-Iran war, can energy firms sustain shareholder payouts instead of boosting production to stabilize markets?