Devon Energy: Q1 Earnings Insights

Shares of Devon Energy DVN rose in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share increased 246.15% over the past year to $0.45, which beat the estimate of $0.33.

Revenue of $1,762,000,000 decreased by 15.57% year over year, which missed the estimate of $2,210,000,000.

Looking Ahead

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

Devon Energy hasn't issued any revenue guidance for the time being.

Technicals

52-week high: $26.13

Company's 52-week low was at $7.73

Price action over last quarter: Up 7.92%

Company Overview

Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2019, Devon's proven reserves totaled 589 million barrels of oil equivalent, with net production of 323 mboe/d. Oil and natural gas liquids made up 69% of production and 62% of proven reserves.