Devon Energy Corporation (NYSE:DVN) is set to announce second quarter earning results on Tuesday 4th August 2020, after market close.
Analysts surveyed by Thomson Reuters are predicting, DVN to report 2Q20 loss of $ 0.26 per share.
For the full year, analysts anticipate top line of $ 5702.91 million, while looking forward to loss of $ 0.33 per share bottom line.
Previous Quarter Performance
Devon Energy Corporation reported income for the first quarter of $ 0.13 per share, from the revenue of $ 2,087.00 million. The quarterly earnings reduced 63.89 percent while revenues shrunk 5.57 percent compared with the same quarter last year.
Street analysts expected Devon Energy Corporation to report loss of $ 0.22 per share on revenue of $ 1404.72 million for the first quarter. The bottom line results beat street analysts by $ 0.35 or 159.09 percent, at the same time, top line results outshined analysts by $ 682.28 million or 48.57 percent.
Historical Earnings Performance
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Stock Performance
According to the previous trading day, closing price of DVN was $ 10.60, representing a 125.53 % increase from the 52 week low of $ 4.70 and a 62.7 % decrease over the 52 week high of $ 28.42.
The company has a market capital of $ 4.06 billion and is part of the Energy sector and Oil & Gas E&P industry.
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Recent Analyst recommendations
- On 13th July 2020, maintained by Scotiabank at Sector Outperform rating, with $ 16.00 target price.
- On 29th June 2020, maintained by UBS Group at Buy rating, with $ 19.00 target price.
- On 25th June 2020, maintained by Wells Fargo & Co at Overweight rating, with $ 17.00 target price.
- On 19th June 2020, upgraded by Mizuho to Buy from Neutral rating, with $ 17.00 target price.
Recent Stock Dividend Announcement
On June 3, 2020, the board of directors authorized quarterly dividend of $ 0.11 per share to holders of record as of the close of business on September 14, 2020, with payment date of September 30, 2020 and ex-dividend date on September 11, 2020.
Devon Energy Corporation, an independent energy company, primarily engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States and Canada. It operates approximately 12,900 gross wells. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
