5 Reasons This Beaten-Down Oil Stock Believes It's Heading in the Right Direction
Continued volatility in the oil market has put pressure on most oil stocks. Among those walloped by all the movement in crude prices is Devon Energy (NYSE: DVN), which has lost nearly 50% of its value in the past year. The U.S.-focused oil producer, however, is working to reposition its portfolio so it can thrive in any oil price environment.
That strategy is paying dividends, which was evident in the company's second-quarter results. That led CEO Dave Hager to highlight five of Devon's "value-enhancing accomplishments" during the accompanying conference call, which showed that its plan is beginning to pay off.
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Source Fool.com
