| Devon Energy beats Street 3Q forecasts | |
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OKLAHOMA CITY (AP) _ Devon Energy Corp. (DVN) on Tuesday reported net income of $1.02 billion in its third quarter.
The Oklahoma City-based company said it had profit of $2.47 per share. Earnings, adjusted for non-recurring gains, came to $1.34 per share.
The results surpassed Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.27 per share.
The oil and gas exploration company posted revenue of $5.34 billion in the period, also beating Street forecasts. Analysts expected $4.29 billion, according to Zacks.
Devon Energy shares have dropped 9.5 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 9 percent. In the final minutes of trading on Tuesday, shares hit $56.02, a decline of 13 percent in the last 12 months.
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This story was generated by Automated Insights using data from Zacks Investment Research. DVN stock research report from Zacks.
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Keywords:Devon Energy,Earnings Report
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Devon Energy Corporation
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CODE : DVN |
ISIN : US25179M1036 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Devon Energy is a and oil producing company based in United states of america. Devon Energy holds various exploration projects in Canada. Its main exploration property is JACKFISH OIL SANDS PROJECT in Canada. Devon Energy is listed in United States of America. Its market capitalisation is US$ 22.5 billions as of today (€ 20.6 billions). Its stock quote reached its lowest recent point on August 18, 1995 at US$ 10.00, and its highest recent level on February 22, 2008 at US$ 99.19. Devon Energy has 525 000 000 shares outstanding. |