Devon Energy: Q2 Earnings Insights

Shares of Devon Energy DVN rose 3.25% in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were down 178.26% over the past year to ($0.18), which beat the estimate of ($0.26).

Revenue of $394,000,000 decreased by 79.49% from the same period last year, which missed the estimate of $1,120,000,000.

Outlook

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Technicals

Company's 52-week high was at $28.41

Company's 52-week low was at $4.70

Price action over last quarter: down 2.09%

Company Description

Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base in spread throughout onshore North America with franchise development assets in the Stack and Delaware Basin. Other shale assets include acreage in the Eagle Ford, Powder River Basin, and Barnett. The company also holds oil sands operations in Alberta, Canada. At year-end 2018, Devon's proven reserves totaled 1,927 million barrels of oil equivalent with net production of 535 mboe/d. Oil and natural gas liquids made up 66% of production and 59% of proven reserves.