Coterra and Devon Close to Merger to Form $60 Billion U.S. Shale Company - FT
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: moomoo
Partnership Announcement: Coterra and Devon Energy have announced a collaboration to create a significant $60 billion business venture.
Focus on Sustainability: The partnership aims to enhance sustainability efforts within the energy sector, emphasizing innovative practices and technologies.
Market Impact: This collaboration is expected to have a substantial impact on the market, potentially reshaping industry dynamics and investment strategies.
Future Prospects: The companies are optimistic about the future growth opportunities that this partnership will bring, particularly in the context of evolving energy demands.
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Analyst Views on DVN
Wall Street analysts forecast DVN stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DVN is 43.25 USD with a low forecast of 35.00 USD and a high forecast of 55.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
21 Analyst Rating
17 Buy
4 Hold
0 Sell
Strong Buy
Current: 39.940
Low
35.00
Averages
43.25
High
55.00
Current: 39.940
Low
35.00
Averages
43.25
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.
Devon Energy Named Among Top 10 American Oil and Gas Stocks
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