From Financial Modeling Prep: 2024-07-09 08:00:09

Morgan Stanley upgraded Devon Energy Corporation to an Overweight rating, showing confidence in its market position and growth potential. Devon Energy’s $5 billion acquisition of Grayson Mill Energy’s Williston Basin business aims to expand operations and strengthen its presence in the oil sector. The deal includes $3.25 billion in cash and $1.75 billion in stock, highlighting Devon Energy’s financial strategy for enhanced scale and free cash flow generation capabilities.



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