Oil prices are higher on hopes that OPEC members will agree on a cut to production levels, the Wall Street Journal reports. The global oversupply of oil has weighed on prices during the last year.
However, some industry experts doubt that all OPEC member countries will cooperate, according to the Journal.
"The more days that go on, the less people believe it," Todd Garner, managing partner at ProtecEnergyPartners, told the Journal. "You're not going to get every (producer) to agree. If that was going to be the case, you would have done it a long time ago."
Crude oil (WTI) is up by 1.17% to $33.61 per barrel and Brent oil is rising by 2.48% to $34.73 per barrel, according to the CNBC.com index.
Based in Oklahoma City, Devon Energy is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rated this stock as a "sell" with a ratings sof D+. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, generally high debt management risk, disappointing return on equity, weak operating cash flow and generally disappointing historical performance in the stock itself.
You can view the full analysis from the report here: DVN