How To Energy Stocks Battered As Market Meltdown Continues?
Devon Energy Corporation is one of the independent energy company. This Company is operating through its U.S operating segment. This U.S operating segment is involved in the research, development, and production of oil, natural gas and natural gas liquids (NGL). The (NYSE: DVNat https://www.webull.com/quote/nyse-dvn) Company’s operations are concentrated in various North American onshore areas in the United States. The Company’s operations are focused on four core oil-producing areas such as the Delaware Basin, Eagle Ford, STACK and Rockies Oil. The Company is offering research and development opportunities from geologic reservoirs and play types that are including the oil-rich Bone Spring, Wolfcamp and Leonard formations.
Why does the Market Meltdown continue?
- The increasingly desperate situation in oil markets has forced down big names in energy to 16-year lows as crude prices tumble into the lower $30 per barrel range following U.S. President Donald Trump’s announcement is banned all travel from Europe into the U.S.
- The S&P 500 Energy Index boasts big names such as Apache, Baker Hughes, Devon Energy, Marathon Oil, Valero, and Schlumberger. It has fallen 45 percent in the last 30-days, as a result of the coronavirus pandemic and the oil price war between Saudi Arabia and Russia.
- It was slashing its 2020 capital investment plan to $1.0 billion-$1.2 billion from a previous range of $1.6 billion-$1.9 billion. DVN stock or DVN stock newsalso announced on Thursday that it would cut spending by 30 percent compared to its previous 2020 capital plan.
- These capital expenditure cuts may just be the beginning as the oil & gas industry is bracing for a tough remainder of the year. The U.S. shale patch is beating oil majors that are not expected to do much better.
- Plans to boost dividends and increase shareholder payouts in the first half of the 2020s are about to be thrown out of the window as barely any oil firm can generate sufficient cash flow and payout a dividend with oil below $40 per barrel.
- The real question here is, how high will oil majors let their debt run before deciding to cut back on dividend payments.
- On Thursday afternoon, the U.S. Federal Reserve pledged to inject $1.5 Trillion into the U.S. that markets are growing panic, and while this boosted marketsoil prices temporarily, indices and oil prices continued to fall toward the end of today’s trading session.
Tandem Diabetes Care (NASDAQ:TNDM https://www.webull.com/quote/nasdaq-tndm) will be notifying customers about an information security incident involving five Tandem employee email accounts.On January 17, it became aware of a breach by an unauthorized user through a “phishing” event. It says it immediately secured the account and launched an investigation, engaging a leading cybersecurity firm to assist. The inquiry determined that a limited number of employee email accounts may have been accessed between January 17 and January 20 and that some customer data, including contact information, clinical data related to diabetes therapy and possibly Social Security numbers, may have been compromised. Management is unaware of any misuse of the information thus far. Letters will be sent out tomorrow, March 17, explaining the incident. The company recommends that customers review their billing statements from their healthcare providers for accuracy.