Devon Energy Corp reports results for the quarter ended June 30 - Earnings Summary

• Devon Energy Corp DVN reported quarterly adjusted earnings of 84 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of $1.41. The mean expectation of twenty five analysts for the quarter was for earnings of 85 cents per share. Wall Street expected results to range from 75 cents to $1.04 per share.

• Revenue rose 9.4% to $4.28 billion from a year ago; analysts expected $4.02 billion.

• Devon Energy Corp's reported EPS for the quarter was $1.41​.

• The company reported quarterly net income of $899 million.

• Devon Energy Corp shares had risen by 0.4% this quarter and lost 2.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 4.8% in the last three months.​

• In the last 30 days, fourteen analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 20 "strong buy" or "buy," 10 "hold" and no "sell" or "strong sell." The average consensus recommendation for the oil & gas exploration and production peer group is also "buy"

• Wall Street's median 12-month price target for Devon Energy Corp is $43.00, about 24.9% above its last closing price of $32.31

This summary was machine generated from LSEG data August 5 at 09:02 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)