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Apex Trader Funding (ATF) - News

UPDATE 2-Devon Energy tops profit estimates on strong demand, boosts share buyback

Shale oil producer Devon Energy on Monday topped Wall Street estimates for first-quarter profit on high demand for crude oil, and raised its share repurchase program by 50% to $3 billion. Energy companies have started boosting investor returns since last year with the excess cash they generated aided by higher crude prices. While crude price fell during the first quarter, nearly 20% lower compared to last year when prices soared to multi-year peaks following Russia's invasion of Ukraine, they were still high enough for producers to remain profitable.