Latest news with #JohnKrenickiJr.
Yahoo
04-04-2025
- Business
- Yahoo
Devon Energy (NYSE:DVN) Sees 2% Dip As John Krenicki Jr. Steps Down From Board
Devon Energy recently announced a significant board change with John Krenicki Jr. stepping down, marking a noteworthy transition in leadership. This shift comes as the energy sector faces challenging market conditions, reflected in the company's 2% share price decline last quarter. During this period, broader market factors, such as President Trump's tariffs announcement, exacerbated market turbulence and affected stock indices, inducing a 5% drop in the market over the last week. Concurrently, despite Devon's revenue increase, a 45% year-on-year decline in net income may also have played a role in the company's weaker performance. You should learn about the 3 risks we've spotted with Devon Energy (including 1 which is a bit concerning). We've found 25 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Over the past five years, Devon Energy's total shareholder return, including dividends, rose by 357.52%. During this period, Devon Energy focused on enhancing its operational efficiencies and improving its asset portfolio. The dissolution of the joint venture with BPX, particularly in the Eagle Ford region, contributed to significant cost savings, improving well returns. Additionally, the strategic acquisition of Grayson Mill Energy in May 2024 for US$2 billion boosted Devon's asset base, supporting future growth avenues. In 2024, Devon demonstrated confidence in its valuation by repurchasing shares worth over US$3 billion and increasing dividend payouts, reflecting a shareholder-focused approach. Despite underperforming the US Oil and Gas industry over the past year, Devon's robust capital return program and operational improvements have laid a foundation that contributed to its substantial total return over the long term. These actions highlight the company's commitment to both investing in growth and returning capital to its shareholders. Examine Devon Energy's earnings growth report to understand how analysts expect it to perform. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:DVN. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
Yahoo
05-03-2025
- Business
- Yahoo
John Krenicki Jr. to Retire from Devon Energy Board of Directors
OKLAHOMA CITY, March 05, 2025 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) announced today that John Krenicki Jr. is retiring from the company's board of directors at the end of his current term and will not stand for re-election at the company's annual meeting of stockholders, which is scheduled for June 4, 2025. Mr. Krenicki plans to focus on his full-time responsibilities at CD&R, a private equity firm where he currently serves as Vice Chairman. "John Krenicki has served with distinction on Devon's board since 2018, leaving a mark through his dedication. We are grateful for his years of service, during which he offered strategic guidance and wise counsel, including with the transformative merger of Devon and WPX Energy in 2021. We wish John the best in the continued growth of his private equity ventures," said John Bethancourt, Devon's Chairman. ABOUT DEVON ENERGY Devon Energy is a leading oil and gas producer in the U.S. with a diversified multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon's disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit Investor Contact Media Contact Michelle Hindmarch 405-228-4450 405-552-7460 This press release was published by a CLEAR® Verified in to access your portfolio
