NEW YORK - Devon Energy Corp. (NYSE:DVN) experienced a notable decline in its stock price, closing at $41.09, which represented a drop of 1.42% from the previous trading session. The company, known for its operations in oil and natural gas exploration, saw trading volumes reach around thirteen million shares, surpassing its average trading volume of eight to nine million shares. The stock's beta value, at 2.22, indicates a higher susceptibility to market volatility compared to the broader market.
Despite the recent decline, Devon Energy remains a significant player in the energy sector, with a considerable portion of its shares held by institutional investors. The Vanguard Group Inc. and Blackrock (NYSE:BLK) Inc. are among the largest stakeholders in the company, illustrating confidence from major investment firms.
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