Devon Energy's (DVN 1.03%) stock price has fallen nearly 30% from its 52-week highs. That drop roughly tracks along with the price declines in West Texas Intermediate crude, a key U.S. oil benchmark. But the big story for income investors is that the dividend has now settled at $0.22 per share per quarter. There's a lot to unpack here, but Devon Energy is still a great oil company, even if the dividend is in a state of flux.What does Devon Energy do?Devon Energy is a pure play upstream oil and natural gas p ...

This year, the market fell out of love with Devon Energy (DVN -2.31%). At the time of writing, the stock is down more than 15% year to date. The move likely comes down to a combination of reasons that mask the fundamental attractiveness of the stock. As such, the dip in the share price looks like a good buying opportunity. Here's why.Devon Energy's disappointing stock performance in 2024Comparing Devon with one of its oil and gas exploration and production peers, Diamondback Energy (FANG -3.19%), helps to h ...

A high-yielding gas energy pipeline ETF and two oil companies gushing cash make up a list of three great stocks to buy for future dividends.These three stocks offer investors huge dividend potential for many years. The Global X MLP ETF (MLPA 0.62%) invests in master limited partnerships (MLPs) in midstream pipelines and storage. Meanwhile, Devon Energy (DVN -2.31%) and Diamondback Energy (FANG -3.19%) are oil and gas exploration and production companies set to gush cash in 2025 and use it to enhance dividen ...

Devon Energy Corporation (DVN) reported better-than-expected third-quarter 2024 earnings per share on Nov. 5. Earnings and revenues surpassed the respective Zacks Consensus Estimate by 3.8% and 7.2%. The third-quarter performance was driven by strong production volumes from the Delaware Basin, offset marginally by the drop in realized prices of the commodities.DVN has been reporting strong earnings results, courtesy of solid financial and operational performance from its multi-basin assets. The company surp ...

The natural gas sector consists of companies involved in exploring, producing, transporting, and distributing natural gas. These companies range from upstream producers to pipeline operators and local utility providers. Natural gas stocks offer potential investment opportunities in companies throughout the energy supply chain. The sector plays a crucial role in global energy markets, particularly in power generation and heating.Investing in natural gas stocks can provide several potential benefits. The dema ...

Devon Energy expects to produce a lot of oil and cash next year.Devon Energy (DVN 1.73%) is having a strong year. The oil company's legacy operations are firing on all cylinders, which was evident in its recent third-quarter earnings report. However, as good as things have been, the oil company expects them to get even better in the coming quarters. Fueling that view is its recently closed acquisition of Grayson Mill Energy. Here's a look at Devon's latest quarter and what it sees ahead.Drilling down into D ...

Financial Data and Key Metrics Changes - Devon Energy achieved a record total production of 728,000 barrels of oil equivalent per day, including 335,000 barrels of oil per day, representing a 12% year-over-year growth in production per share [6][8] - The company generated $786 million in free cash flow in Q3 2024 and returned $431 million to shareholders through share repurchases and dividends [8][27] - Core earnings totaled $683 million or $1.10 per share, with EBITDA at $1.9 billion and operating cash flow of $1.7 billion, all exceeding consensus estimates [26] Business Line Data and Key Metrics Changes - The Delaware Basin was the primary contributor to earnings, with production volumes reaching 488,000 BOE per day, a 6% growth from the previous quarter [17] - Well productivity in the Delaware Basin improved by 20% year-over-year, with average 30-day rates exceeding 3,100 BOE per day per well [20][17] - The Grayson Mill acquisition is expected to sustain production at approximately 100,000 BOE per day, with plans to invest $150 million in the new assets [24] Market Data and Key Metrics Changes - Devon Energy expects total production to average around 800,000 BOEs per day in 2025, nearly 5% higher than previous guidance [30] - The company anticipates spending between $4 billion and $4.2 billion on capital expenditures in 2025, positioning itself to generate robust free cash flow [31] Company Strategy and Development Direction - The company remains committed to operating excellence and improving capital efficiency, focusing on a multi-basin portfolio in top U.S. resource plays [11][12] - Devon Energy plans to continue enhancing its portfolio and grow its resource base while maintaining financial strength and flexibility [12] - The company is focused on delivering value to shareholders through dividends and share buybacks, targeting up to 70% of free cash flow for shareholder returns [31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term need for all forms of energy, despite short-term commodity price uncertainties [10] - The integration of the Grayson Mill acquisition is progressing well, with expectations for healthy growth in oil production and robust free cash flow even in a lower commodity environment [13][24] - Management highlighted the importance of balancing near-term performance with long-term inventory considerations, emphasizing a decade of low-risk development inventory [11][80] Other Important Information - The company closed the Grayson Mill transaction quickly, enhancing its position as one of the largest producers in the U.S. [9] - Devon Energy has a net debt-to-EBITDA ratio of just over 1x and strong liquidity, with plans to reduce net leverage through cash flow generation [29] Q&A Session Summary Question: Drivers of well productivity increase in the Delaware Basin - Management noted improvements in well placement, completion design, and sequencing as key factors driving productivity [34][36] Question: Self-help opportunities for capital efficiency in Bakken - Management identified synergy opportunities and infrastructure improvements as areas for enhancing capital efficiency post-acquisition [39][40] Question: M&A strategy and future opportunities - Management indicated a balanced approach to M&A, considering both organic growth and smaller tuck-in acquisitions [44][47] Question: Natural gas realizations and pricing outlook - Management discussed the impact of the Matterhorn pipeline on pricing and the steps taken to mitigate potential oversupply risks [49][51] Question: Capital allocation strategy regarding buybacks and dividends - Management confirmed a focus on fixed dividends and share repurchases, with flexibility to adjust based on market conditions [71][74] Question: Inventory and production sustainability in the Permian - Management expressed confidence in a 10-year inventory runway across all basins, with a focus on optimizing production levels [80][81]

Devon Energy Corp. (DVN) reported third-quarter 2024 earnings per share (EPS) of $2.51, outpacing the Zacks Consensus Estimate of $2.47 by 1.6%.GAAP earnings per share in the reported quarter were $1.30 compared with $1.34 in the year-ago quarter. The difference between GAAP and operating earnings in the third quarter was due to an impact of 20 cents from fair value changes in financial instruments, 1 cent from deferred tax asset valuation allowance, and 1 cent from restructuring and transaction costs.Stay ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number 001-32318 DEVON ENERGY CORPORATION (Exact name of registrant as specified in its charter) | --- | --- | |--------------------------------------- ...

Devon Energy (DVN) came out with quarterly earnings of $1.10 per share, beating the Zacks Consensus Estimate of $1.06 per share. This compares to earnings of $1.65 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.77%. A quarter ago, it was expected that this oil and gas exploration company would post earnings of $1.29 per share when it actually produced earnings of $1.41, delivering a surprise of 9.30%.Over the last four quar ...