Watch for Continued Gains in Shares of Devon Energy Corporation (DVN)

IBN Spotlights
Friday, May 27, 2022 at 7:00pm UTC

Shares of Devon Energy Corporation (NYSE:DVN) traded at a new 52-week high today of $75.69. Approximately 6.6 million shares have changed hands today, as compared to an average 30-day volume of 11.5 million shares.

Devon Energy Corporation (NYSE:DVN) is currently priced 23.6% above its average consensus analyst price target of $57.68.

In the past 52 weeks, Devon Energy Corporation share prices are bracketed by a low of $24.05 and a high of $75.69 and is now at $75.55, 214% above that low price.

Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm’s asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2021, Devon’s proved reserves totaled 1.6 billion barrels of oil equivalent, and net production that year was 572 mboe/d (of which, oil and natural gas liquids made up 74% of production, with natural gas accounting for the remainder).

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