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Actionable news in DVN: DEVON ENERGY CORPORATION,

Why Devon Energy (DVN) Stock is Surging Today

NEW YORK (TheStreet) -- Devon Energy Corp. (DVN - Get Report) shares are spiking 4.11% to $28.74 on Friday, as oil prices jumped on the recent rig count data from Baker Hughes (BHI).

The number of rigs operating in U.S. oil fields dropped by 8 to a total of 354 in the previous week. A year ago, drillers had 760 oil rigs, Reuters noted.

Futures were also boosted by the optimism over a proposed freeze in oil production when oil producers meet on April 17 in Doha.

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