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.

Articles You May Like

Unrest grows over comedian’s slurs at Trump rally – as Harris says Republican rival ‘fixated’ on division
AP poll reaction: What’s next for each Top 25 team?
Pound falls sharply and long-term borrowing rates up after major budget tax rises
Budget will embrace ‘harsh light of fiscal reality’, but PM insists ‘better days are ahead’
Microsoft says Google is running ‘shadow campaigns’ in Europe to influence regulators