Once-acquisitive Chinese oil giant looks to revive global dealmaking By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Source: Investing.com
CNPC's Strategic Shift: China National Petroleum Corp (CNPC) is reevaluating its global strategy to enhance deal-making, focusing on gas liquefaction and deep-sea drilling while aiming to increase production from aging wells amidst stagnant domestic oil output and geopolitical challenges.
Investment Opportunities and Challenges: CNPC plans to expand its liquefied natural gas investments in Qatar and explore deep-sea opportunities in South America, but faces significant geopolitical hurdles and constraints in key regions like Venezuela, Iran, and Russia.
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: 37.980
Low
35.00
Averages
43.25
High
55.00
Current: 37.980
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.
