Topic: How To Invest

Stock Pickers Digest Hotline – Friday, May 31, 2019

Article Excerpt

DEVON ENERGY CORP., $25.16, symbol DVN on New York, is a leading explorer and producer of oil and natural gas in the U.S. The company now plans to focus on four core areas in Oklahoma and West Texas. As a result, it has agreed to sell almost all of its Canadian assets to Canadian Natural Resources for $2.8 billion U.S. This includes several heavy-oil projects in eastern Alberta as well as its Jackfish Canadian oil sands production. Other foreign companies that have reduced their ownership in the Canadian oil sands in recent years include Norway’s Statoil, France’s Total SA, Arkansas-based Murphy Oil and Houston-based ConocoPhillips. Devon’s planned sales should let it concentrate on its more-profitable and faster-growing U.S. oil properties. With the June 2019 payment, the company will also raise its quarterly dividend by 12.5%, to $0.09 from $0.08. The shares now yield 1.4%. OUR RECOMMENDATION: Devon Energy is still a buy. Devon’s recent coverage Hotline for February 22, 2019 December 2018 issue WYNDHAM HOTELS & RESORTS INC.,…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.