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Stock Market & Financial Investment News

News Breaks
May 20, 2014
07:58 EDTDVNDevon Energy price target raised to $85 from $75 at Oppenheimer
Oppenheimer increased its price target on Devon Energy after meeting with the company's management, as the firm is upbeat on its recent transactions and expects it to generate $600M of free cash flow next year, enabling it to reduce its debt. Oppenheimer keeps an Outperform rating on the shares.
News For DVN From The Last 14 Days
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March 30, 2015
07:16 EDTDVNDevon Energy price target raised to $80 from $75 at Credit Suisse
Credit Suisse raised Devon's price target to $80 to reflect the updated reserve report. The firm reiterates its Outperform rating and sees catalysts from the drop down in of the Access Pipeline to EnLink and the delineation drilling in Lavaca County.
March 23, 2015
18:08 EDTDVNEnLink Midstream to acquire Victoria Express assets from Devon Energy
EnLink Midstream Partners (ENLK) announced that it has entered into an agreement to acquire the Victoria Express Pipeline and related truck terminal and storage assets from Devon Energy Corporation (DVN). Total consideration for the transaction is approximately $210M-$220M, including approximately $171M in cash, approximately 338,000 of the Partnership’s common units and EnLink’s assumption of approximately $30M-$40M in certain construction costs to expand the system to full capacity, subject to adjustments. The transaction, which is expected to close on or about April 1, subject to the satisfaction of certain conditions, is expected to be immediately accretive to the Partnership.

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