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Barrons.com
Oil’s ‘King of Cash’ Impresses Investors Again
Oklahoma City oil and gas producer Devon Energy has been one of Wall Street’s favorite energy stocks since the pandemic, because it has reorganized its entire business model around returning cash to shareholders. Shares of Devon (ticker: DVN) jumped 6% after the report, to new 52-week highs. For the fourth quarter, Devon earned $1.39 a share on $4.3 billion in revenue, beating analysts’ expectations for earnings of $1.24 per share and $3.7 billion in revenue.
