Devon stock sale surprises Wall Street after CEO downplays need

By Ernest ScheyderHOUSTON (Reuters) – It was a head fake that left Wall Street scratching its head.
Dave Hager, Devon Energy Corp’s <DVN.N> chief executive, on Wednesday downplayed the need for a stock offering, telling analysts the oil producer would prefer to sell assets and cut its dividend to protect its balance sheet.
But a few hours later Devon issued a press release announcing it would offer 69 million shares, its first such sale since 1999 not connected to an acquisitio