Published on 21 Apr 2024 on Simply Wall St. via Yahoo Finance
Devon Energy Corporation's (NYSE:DVN) Stock's On An Uptrend: Are Strong Financials Guiding The...
Devon Energy's (NYSE:DVN) stock is up by a considerable 27% over the past three months. Given the company's impressive performance, we decided to study its financial indicators more closely as a company's financial health over the long-term usually dictates market outcomes. Specifically, we decided to study Devon Energy's ROE in this article.
Return on equity or ROE is an important factor to be considered by a shareholder because it tells them how effectively their capital is being reinvested. In simpler terms, it measures the profitability of a company in relation to shareholder's equity.