Devon Energy is a $25.5 billion market cap oil E&P company. Its base dividend yields 2.3%, and it also repurchases shares and has paid a variable dividend in the past. Devon is operating well, and its results will be enhanced as it begins reporting production and reserves from its $5 billion Grayson Mill acquisition. However, the company is disadvantaged by the near-zero prices for its substantial volumes of Permian basin natural gas.
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Benchmark U.S. West Texas Intermediate (WTI) crude oil will cost $60-$80 per barrel in the foreseeable future, shale producer Devon Energy's chief executive officer told attendees at an energy conference in Dallas on Wednesday.
DVN continues with its stable performance and is presently trading at a discount. It, with multi-basin holdings, will likely move higher, but investors should wait for a better entry point.
Recently, Zacks.com users have been paying close attention to Devon Energy (DVN). This makes it worthwhile to examine what the stock has in store.
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Investors often turn to recommendations made by Wall Street analysts before making a Buy, Sell, or Hold decision about a stock. While media reports about rating changes by these brokerage-firm employed (or sell-side) analysts often affect a stock's price, do they really matter?
Devon Energy expects to produce a lot of oil and cash next year.
Devon Energy Corporation (NYSE:DVN ) Q3 2024 Results Conference Call November 6, 2024 11:00 AM ET Company Participants Rosy Zuklic - Vice President of Investor Relations Rick Muncrief - President and Chief Executive Officer Clay Gaspar - Chief Operating Officer Jeff Ritenour - Chief Financial Officer Conference Call Participants Arun Jayaram - JPMorgan Neil Mehta - Goldman Sachs Kalei Akamine - Bank of America Merrill Lynch Scott Gruber - Citigroup Roger Read - Wells Fargo Neal Dingmann - Truist Paul Cheng - Scotiabank Doug Leggate - Wolfe Research J. Phillips Johnston - Capital One Charles Meade - Johnson Rice Betty Jiang - Barclays Josh Silverstein - UBS Operator Welcome to Devon Energy's Third Quarter 2024 Conference Call.
DVN's third-quarter earnings were better than expected. The company decides to declare a variable dividend for the quarter to accommodate the drop in commodity prices.
Devon Energy (DVN) came out with quarterly earnings of $1.10 per share, beating the Zacks Consensus Estimate of $1.06 per share. This compares to earnings of $1.65 per share a year ago.