Recap: Devon Energy Q3 Earnings

Shares of Devon Energy DVN fell 0.59% in after-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share fell 126.92% year over year to ($0.07), which beat the estimate of ($0.12).

Revenue of $1,067,000,000 declined by 42.23% from the same period last year, which beat the estimate of $1,020,000,000.

Looking Ahead

Devon Energy Raises FY 2020 Production Forecast To 152,000-154,000 Barrels/Day

Recent Stock Performance

Company's 52-week high was at $26.98

Company's 52-week low was at $4.70

Price action over last quarter: down 33.31%

Company Profile

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.