Recap: Devon Energy Q2 Earnings

Shares of Devon Energy DVN moved higher in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share increased 433.33% over the past year to $0.60, which beat the estimate of $0.49.

Revenue of $2,417,000,000 rose by 513.45% year over year, which beat the estimate of $2,290,000,000.

Guidance

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

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

Price Action

Company's 52-week high was at $31.99

52-week low: $7.73

Price action over last quarter: Up 3.69%

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 2020, Devon's proved reserves totaled 757 million barrels of oil equivalent, and net production that year was 333 mboe/d (of which, oil and natural gas liquids made up 70% of production, with natural gas accounting for the remainder).