Devon Energy, Dupont de Nemours, and More Making Huge Stock Movements
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As always, the stock markets are constantly making a move and the publicly listed companies are constantly experiencing highs and lows. Therefore, it is time to discuss some of the companies that have made huge movements in the stock markets.
In the list of companies making huge stock movements, the first company in Devon Energy has experienced a 5.3% rise in its share prices. The rise in the share prices for the company was observed following the successful conclusion of the OPEC+ meeting. It has been agreed in the OPEC+ meeting that the oil sectors will be sticking with the gradual output hike plan. This means that the oil prices will continue experiencing a rise in the stock markets.
Then there is Marathon Oil that has also recorded a 4.1% rise in its share prices. The data shows that the share prices for Marathon Oil have spiked due to the same reason as Devon Energy. The OPEC+ agreement seems to be bringing in positive results for the oil companies. A similar kind of surge has been recorded for Occidental Petroleum Company that has also experienced a rise in its share prices. The reports reveal that Occidental Petroleum has experienced a 2.1% rise in its share prices in premarket trading. Once again, the OPEC+ agreement comes into play helping the company experience a rise in share prices.
After the huge losses incurred by the oil companies during the pandemic, the oil companies are now in agreement to increase the oil prices to cover the losses. Therefore, it is to be expected that the oil prices will remain at a high rate until the situation comes back to normal in the upcoming months.
Dupont de Nemours is the next company on the list. The data shows that the stock prices for the company have experienced a 1.5% raise after the major investment giant JPMorgan has taken interest in the materials company. The reports confirm that the analysts at JPMorgan have gone ahead and upgraded the stock stats of Dupont de Nemours. Following the status change, the company has been moved from “neutral” status to “overweight” status. This is going to prove very positive and promising for the company as its share prices will experience further increases. The share prices for the company have already recorded a slight increase. However, it is expected that it will gain more increase in its share prices.
The next company on the list is Union Pacific that has reportedly experienced a 1.9% in stock prices. The data reveals that the company has experienced a rise after the analysts at Barclays decided to upgrade the stock status of the railroad company. Following the change, the status of the company has been upgraded from “equal weight” to “overweight”.
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