U.S. stocks are drifting Thursday, as crude oil prices continue to climb and more signals arrive suggesting the economy remains solid.The S&P 500 was mostly unchanged in afternoon trading after flipping between modest gains and losses earlier in the day.

If the Truist analyst is correct, Devon is an attractive stock, especially for income-seeking investors. For example, on the second-quarter earnings call, management argued that with a price of oil of $70, its free cash flow yield ( FCF) would be around 9% in 2024, based on the stock price of around $42.80.

U.S. stocks hold steady near records as Asian markets experience wild swings, with Japan tumbling and China soaring.