5 Things to Know About Devon Energy Stock
With oil companies reporting massive profits after the recent spike in energy prices, many have been turning their attention to oil and gas stocks. While oil supermajors may be one of the most common considerations, there's no shortage of names in the oil patch for investors to consider.
One name, for example, that draws consistent attention is Devon Energy (NYSE: DVN), a company with upstream operations that currently offers a mouthwatering forward dividend yield of 7.6%. Despite its popularity, though, smart investors will want to familiarize themselves better with the company, so let's look at some things that provide some insight into this leading energy stock.
While Devon Energy has engaged in offshore activities in the past, these days it's singularly focused on terra firma. Besides the Williston Basin, Devon's exploration and production (E&P) operations are located in the Powder River Basin, Anadarko Basin, Delaware Basin, and Eagle Ford, where Devon has recently expanded its operations. In September, Devon closed on the $1.8 billion acquisition of Validus Energy, resulting in Devon's doubling of its presence in the Eagle Ford to 82,000 net acres.
Source Fool.com
