Unveiling Devon Energy (DVN) Q4 Outlook: Wall Street Estimates for Key Metrics

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$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$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].