Devon Energy Corporation (DVN) is a leading Oklahoma City-based independent oil and natural gas exploration and production company. With a market cap of $22 billion, Devon’s operations span the Delaware Basin, Eagle Ford, Anadarko Basin, Williston Basin, and other regions in North America.
The energy giant has significantly underperformed the broader market over the past year. Devon’s shares have dwindled 26.9% over the past 52 weeks and gained 3.2% on a YTD basis, compared to the S&P 500 Index’s ($SPX) 17% surge over the past year and 8.2% rise on a YTD basis.
