Energy's Biggest Second-Quarter Decliner
Although one quarter does not define a company, especially in the energy sector, Devon Energy certainly will get the attention of investors after a second-quarter 70% year-over-year earnings decrease. Devon, with a portfolio consisting of 63% natural gas production, faced headwinds not only with a weak gas market, but also production disruptions leading to an 8% price decrease over the past three months. This decrease is not company-specific Other gas heavies including Halcon, with a 50% gas portfolio, or Forest Oil, sporting 68% gas, lost 20% and 30%, respectively, over the past three months.
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The article Energy's Biggest Second-Quarter Decliner originally appeared on Fool.com.Austin Smith and Joel South has no positions in the stocks mentioned above. The Motley Fool owns shares of Devon Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.