Monday's ETF with Unusual Volume: PXE
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 15 2024
0mins
Source: NASDAQ.COM
High Volume ETF Components:
- Marathon Oil traded up about 0.2% with over 3.1 million shares changing hands.
- Devon Energy was down about 0.1% on volume of over 2.6 million shares.
- Diamondback Energy performed the best, up by about 0.8%.
- Delek US Holdings lagged behind, trading lower by about 2%.
Unusual Volume ETF Video:
- A video titled "Monday's ETF with Unusual Volume: PXE" was mentioned in the content.
Disclaimer:
- The views and opinions expressed are those of the author and may not reflect those of Nasdaq, Inc.
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Analyst Views on DVN
Wall Street analysts forecast DVN stock price to rise
20 Analyst Rating
18 Buy
2 Hold
0 Sell
Strong Buy
Current: 43.960
Low
41.00
Averages
45.53
High
55.00
Current: 43.960
Low
41.00
Averages
45.53
High
55.00
About DVN
Devon Energy Corporation is an oil and gas producer in the United States with a diversified multi-basin portfolio headlined by an acreage position in the Delaware Basin. The Company is primarily engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). It owns a portfolio of assets located in the Delaware Basin, Rockies, Eagle Ford and Anadarko Basin. The Delaware Basin operates in southeast New Mexico and across the state line into west Texas. It offers exploration and development opportunities from many geologic reservoirs and play types, including the oil-rich Wolfcamp, Bone Spring, Avalon and Delaware formations. Its Rockies development consists of its Williston Basin and Powder River Basin assets. The Eagle Ford operations are located in Texas' DeWitt and Karnes counties. The Anadarko Basin development is located in western Oklahoma. It has a joint venture with Dow to develop a portion of its Anadarko Basin acreage.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Merger Announcement: Devon Energy announced an all-stock merger with Cotterra Energy, which, if approved by shareholders, will create a $58 billion energy giant.
Market Reaction: Following the announcement, Devon's stock initially rose nearly 4% but fell 2.2% the next day, reflecting mixed investor sentiment towards merger announcements.
Focus on Dividends: The combined company plans to offer a dividend of 31.5 cents per share post-merger, representing a 31% increase from Devon's current payout, which is crucial for attracting investors in the energy sector.
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