OKLAHOMA CITY, Feb. 18, 2025 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN) today reported financial and operational results for the fourth-quarter 2024. The company also declared its quarterly dividend and provided a 2025 outlook. Devon’s earnings release, supplemental financial tables, guidance and related earnings presentation can be accessed via the Investor Relations section of Devon’s website, www.devonenergy.com. The company’s fourth-quarter conference call will be held at 10:00 a.m. Central time ...

Core Viewpoint - Analysts project that Devon Energy (DVN) will report quarterly earnings of $1 per share, reflecting a year-over-year decline of 29.1%, while revenues are expected to reach $4.24 billion, an increase of 2.2% from the same quarter last year [1]. Earnings Estimates - Over the past 30 days, the consensus EPS estimate for the quarter has been revised upward by 11.3%, indicating a collective reassessment by covering analysts [2]. - Revisions to earnings estimates are crucial indicators for predicting investor actions regarding the stock, with empirical research showing a strong correlation between earnings estimate trends and short-term stock price performance [3]. Revenue Projections - Analysts estimate that 'Revenues - Oil, gas and NGL sales' will reach $2.96 billion, representing an 8.3% increase year-over-year [5]. - 'Revenues - Marketing and midstream revenues' are projected to be $1.22 billion, suggesting a 13% year-over-year change [5]. - 'Revenues - Oil, gas and NGL derivatives' are expected to decline to $74.38 million, indicating a significant drop of 77% year-over-year [5]. Production Estimates - Total oil equivalent production is estimated at 821 million barrels per day, up from 662 million barrels per day in the same quarter last year [6]. - Average daily production of total oil is projected at 386.04 million barrels, compared to 317 million barrels in the same quarter last year [6]. - Average daily production of total gas is expected to be 1,321.45 million cubic feet, up from 1,061 million cubic feet in the same quarter last year [7]. - Average daily production of total NGL is forecasted to reach 214.77 million barrels, compared to 169 million barrels in the same quarter last year [7]. Specific Production Areas - Production of oil in the Anadarko Basin is expected to be 13.89 million barrels per day, slightly up from 13 million barrels per day in the same quarter last year [8]. - Production of oil in other areas is projected at 3.48 million barrels per day, down from 4 million barrels per day in the same quarter last year [8]. - NGL production in the Delaware Basin is estimated at 128.26 million barrels per day, up from 112 million barrels per day in the same quarter last year [9]. - NGL production in the Powder River Basin is expected to decline to 2.50 million barrels per day, down from 3 million barrels per day in the same quarter last year [9]. - NGL production in the Eagle Ford area is projected at 17.47 million barrels per day, compared to 15 million barrels per day in the same quarter last year [10]. Stock Performance - Devon Energy shares have decreased by 10.9% over the past month, contrasting with a 4.9% increase in the Zacks S&P 500 composite [11].

In the latest trading session, Devon Energy (DVN) closed at $34.22, marking a +0.74% move from the previous day. The stock's change was less than the S&P 500's daily gain of 1.04%. On the other hand, the Dow registered a gain of 0.77%, and the technology-centric Nasdaq increased by 1.51%.Heading into today, shares of the oil and gas exploration company had lost 11.61% over the past month, lagging the Oils-Energy sector's loss of 1.08% and the S&P 500's gain of 3.92% in that time.The investment community wil ...

Core Viewpoint - Devon Energy Corporation (DVN) is anticipated to show an increase in revenues but a decrease in earnings when it reports its 2024 results on February 18, after market close [1]. Revenue and Earnings Estimates - The Zacks Consensus Estimate for DVN's fourth-quarter revenues is $4.24 billion, reflecting a growth of 2.2% compared to the previous year [2]. - The Zacks Consensus Estimate for earnings is $1.00 per share, indicating a decline of 29.08% from the year-ago figure [2]. - For the current quarter (ending December 2024), the Zacks Consensus Estimate for earnings is $1.00, with a year-over-year growth estimate of -29.08% [3]. - The number of estimates for the current quarter is 9, with a high estimate of $1.08 and a low estimate of $0.94 [3]. Earnings Surprise History - DVN has consistently beaten the Zacks Consensus Estimate in the last four quarters, with an average surprise of 4.99% [4][5]. Earnings Prediction Model - The model predicts a likely earnings beat for DVN, supported by a positive Earnings ESP of +3.11% and a Zacks Rank of 3 (Hold) [6]. Factors Influencing Q4 Earnings - Devon's multi-basin portfolio and high-margin assets are expected to contribute positively to earnings [8]. - The acquisition of Grayson Mill Energy is projected to significantly increase production volumes from the Williston Basin, tripling to 150,000 Boe/d [8]. - Fourth-quarter production volumes are expected to be between 811,000 and 830,000 Boe/d, benefiting from hedging against price fluctuations [9]. - The company has reduced its outstanding debt by $1.5 billion, which is likely to lower annual interest expenses and boost earnings [10]. - Effective cost management and cash flow generation have allowed for share buybacks, positively impacting earnings [11]. Price Performance and Valuation - DVN shares have decreased by 13.7% over the past three months, compared to a 20.1% decline in the industry [14]. - The current trailing 12-month EV/EBITDA for DVN is 4.16X, significantly lower than the industry average of 11.39X, indicating relative undervaluation [15]. Investment Thesis - Devon's productive multi-basin assets and the acquisition of Grayson Mill Energy are expected to sustain high-margin production and strong free cash flow [17]. - The company is focused on reducing debt and lowering interest expenses, which will enhance financial flexibility [17]. - The competitive oil and gas industry may pose challenges for Devon in acquiring new drilling rights or properties [18]. Summary - Devon's high-quality domestic assets and balanced exposure to oil, natural gas, and NGL production, along with a low-cost production structure, are expected to enhance margins [19]. - The company is currently trading at a discount, making it an attractive option for investors [19].

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The market expects Devon Energy (DVN) to deliver a year-over-year decline in earnings on higher revenues when it reports results for the quarter ended December 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The earnings report, which is expected to be released on February 18, 2025, might help the stock move higher if these key numbers ...

WTI crude oil got off to a hot start in 2025. “Black gold” rallied sharply from near $70 in mid-December to above $80 for a moment just before President Trump’s inauguration. Oil has given back just about allFreelance Financial Writer | Investments | Markets | Personal Finance | RetirementI create written content used in various formats including articles, blogs, emails, and social media for financial advisors and investment firms in a cost-efficient way. My passion is putting a narrative to financial data. ...

Core Insights - Devon Energy (DVN) is well-positioned to continue its earnings-beat streak in upcoming reports, with a history of surpassing earnings estimates, particularly in the last two quarters, averaging a surprise of 6.54% [1][3] Earnings Performance - In the last reported quarter, Devon Energy achieved earnings of $1.10 per share, exceeding the Zacks Consensus Estimate of $1.06 per share, resulting in a surprise of 3.77% [2] - In the previous quarter, the company reported earnings of $1.41 per share against an expected $1.29 per share, delivering a surprise of 9.30% [2] Earnings Estimates - There has been a favorable change in earnings estimates for Devon Energy, with a positive Earnings ESP (Expected Surprise Prediction) indicating potential for an earnings beat, supported by a solid Zacks Rank [3][6] - The current Earnings ESP for Devon Energy stands at +0.97%, suggesting increased analyst optimism regarding its near-term earnings potential [6] Predictive Metrics - Stocks with a positive Earnings ESP and a Zacks Rank of 3 (Hold) or better have a nearly 70% chance of producing a positive surprise, indicating a strong likelihood of beating consensus estimates [4] - The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate, with the Most Accurate Estimate reflecting the latest analyst revisions [5]

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