Boston, MA 04\/04\/2014 (wallstreetpr) –\u00a0Taking advantage of the opportunities in the energy sector means being in the right position at the right time, and Devon Energy Corp (NYSE:DVN)<\/b> is trying just that. The company is selling its non-cores assets in order to raise funds for most lucrative investments while gaining greater focus on core operations.<\/p>\n
In efforts to remake itself into a fast-growth oil company, Devon this week announced the completion of the sale of its natural gas property in Canada. The deal is expected to fetch approximately $2.7 billion. The cash infusion from the transaction will help the company to meet the debt related to the $6 billion acquisition at Eagle Ford Shale, south Texas.<\/p>\n
According to the officials of Devon, the acquisition in Eagle Ford will enable the company to boost its production this year by more than 40 percent. Achieving high production level will not only help the company to attract higher revenue, but also offset the low oil and gas prices.<\/p>\n
Steady performance<\/b><\/p>\n
Devon Energy Corp (NYSE:DVN) has a reputation for delivering strong results quarter after quarter. The company\u2019s earnings performance has also been encouraging, especially over the last four quarter, achieving average earnings beat of almost 14 percent against consensus estimates. On this basis, decent momentum can be seen in the stock price in the past one-year, a period in which stock price has jumped more than 27 percent and smashed important price barriers.<\/p>\n
The steady performance of the company in both stock price and earnings can be attributed to the meticulous managerial strategies in place. Also, the company\u2019s increasing focus on better rewarding operations has helped in achieving earnings growth.<\/p>\n
Dividend growth<\/b><\/p>\n
Devon Energy Corp (NYSE:DVN)\u2019s strength not only exist in strong stock price performance and earnings growth, but also increase in dividend. The company recently boosted its quarterly dividend by 9 percent to $0.24. Following the latest dividend boost, the company has now raised its dividend payout nine times since 2004. There is no doubt increased focus on vital operations will lift the price of the stock as well as earnings and possibly keep dividend up.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 04\/04\/2014 (wallstreetpr) –\u00a0Taking advantage of the opportunities in the energy sector means being in the right position at the right time, and Devon […]<\/p>\n","protected":false},"author":2,"featured_media":18338,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[3037,1367],"stock_ticker":[],"class_list":["post-18655","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-devon-energy-corp-nysedvn","tag-nysedvn","entry"],"acf":[],"yoast_head":"\n